Robinhood Seeks $35 Billion Valuation Ahead of Initial Public Offering

Robinhood Seeks $35 Billion Valuation Ahead of Initial Public Offering

Robinhood Seeks $35 Billion Valuation , Ahead of Initial Public Offering.

According to an amended SEC filing released on July 19, Robinhood wants to sell its stock for between $38 to $42 per share.

The company seeks to sell 55 million shares within that price range to raise up to $2.3 billion.

As of September, the stock trading app's private market valuation was $11.7 billion.

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According to CNBC, Robinhood saw record levels of new, younger traders signing up for its app amid the pandemic and the meme stock frenzy.

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The company is expected to make its IPO debut by the end of next week under the symbol HOOD.

Currently, Robinhood offers cryptocurrency, equity and options trading in addition to cash management accounts.