Robinhood Aims Confidential IPO This March: Report
Main page News, Fintech, US, IPO

Robinhood is considering confidential filing for an initial public offering (IPO) this March, Bloomberg has learned, citing sources familiar with the matter. While no final decision has been made, the fintech company has already contacted underwriters about the filing.

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In the beginning of February, Robinhood raised $3.4 billion in a round led by Ribbit Capital and other investors, including ICONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA. According to Rainmaker Securities, the latest bids in the secondary market for Robinhood shares equate to a valuation of $40 billion. iHodl reported in November last year on Robinhood's plans to go public. Back then, the company valued at around of $11.2 billion.

In September 2020, the millennial-favored stock trading app 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.

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