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Robinhood Gearing Up for Potential IPO in Early 2021: Report
Robinhood is looking for a banking team to partner in an IPO that could come next year.
Trading platform Robinhood Markets has begin searching for bank partners to assist it in an initial public offering that could be held in early 2021, according to Bloomberg.
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Bloomberg’s sources indicated Robinhood has not yet committed to an IPO. It is, however, shopping for banks that could serve as advisers.
An IPO would seek to capitalize on Robinhood’s lucrative audience of first-time investors who flock to the firm’s popular stock trading platform. At last check the firm had a valuation of $11.7 billion.
Robinhood's interest in an IPO comes as U.S stock indices soar to new heights. The bitcoin markets, to which Robinhood gives its users access, is also rallying of late.
Robinhood declined to comment.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
