Robinhood announced their plan to become a publicly traded company back in 2018, while the company behind one of the top trading apps among younger generations started to raise money through private funding even back in 2017.
Back in 2017, Robinhood managed to raise 110 million dollars, which earned the company a favorable status of a fintech unicorn, valued at 1.3 billion dollars back at the time.
As the sector of fintech is going through expansion and accelerated growth, Robinhood and similar companies that are rising to the surface of tech firms are becoming more interesting to investors.
Robinhood IPO Date – When Will Robinhood Go Public?
Getting ready for becoming a publicly traded company in an open manner since September 2018, Robinhood should finally hit the market in 2019.
However, although the planning of Robinhood IPO started a while ago, the exact date when the company should go public is yet to be determined.
Robinhood held another funding round for private investors in 2018, when the company behind a trading app favorite among millennials raised 539 million dollars.
The funding round thus increased the value of the company to 5.6 billion dollars in market capitalization, giving a great start ahead of IPO that should become an official thing in 2019.
The number of shares and the target share price is yet to be shared with the public.
However, based on the latest funding round, dubbed round D, share price for Robinhood IPO is set a little above 10$ per share.
Robinhood IPO Additional Information
The company is recording losses, however, Robinhood made an important acquisition of Snacks, a popular newsletter among millennials, used for financial news.
Additionally, Robinhood joined the list of top 50 innovative fintech companies on Forbes in 2019, carrying a massive growth potential.