Bloomberg: Robinhood to Go Public in 2021
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American investing platform Robinhood is planning to go public as early as the first quarter of 2021, Bloomberg has learned, citing sources familiar with the matter. However, valued at $11.2 billion, Robinhood's plans still could change, the anonymous sources said.

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The company has reportedly already contacted several banks to pitch for roles in an IPO.

In September 2020, the millennials' favorite investing platform raised an additional $460 million in a Series G funding round with a total valuation of $11.7 billion. The company's spokeswoman said the investments came from new and existing investors in Robinhood, including Andreessen Horowitz, D1 Capital Partners, DST Global and others.

However, over the past several months Robinhood has been facing various difficulties. In November, over 10,000 account credentials allegedly tied to Robinhood had been identified on darknet marketplaces. According to Eli Dominitz, Q6 Cyber CEO, the amount of Robinhood-related credentials outnumber those for other brokerages "by about 5-to-1."

Robinhood Clients Suddenly Lose Funds, Blame Company for Slow Support

In September, the platform also faced with a regulatory pressure allegedly due to the March outage which resulted in thousands of dollars of losses. According to Bloomberg, US consumer protection agencies received over 400 complaints about Robinhood over the first half of the year.

The main reason for complaints is related to the March market crash when Robinhood ceased its operations for more than a day. Regulator's supervision even made Robinhood delay its launch in the UK after one of its clients committed suicide.

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