Robinhood plans to launch an IPO

Robinhood plans to launch an IPO


Developers of the mobile investment application Robinhood, which allows you to trade cryptocurrencies without commissions, opened the position of CFO on the eve of the IPO. This was announced by the company’s executive director Baiju Bhatt during the TechCrunch Disrupt event.

According to him, the startup “is currently actively looking for a financial director”, and the public offering “will definitely take place” in the foreseeable future.

“I believe that the status of a public company coincides with our mission. The IPO is definitely on the horizon. Not in the very near future, but we’re thinking about it,” Bhatt said.

Bhatt noted that the company also plans to “become the largest or one of the largest cryptocurrency exchange platforms.” The cryptocurrency exchange direction Robinhood was launched in February in several US states. Later, the list of states was repeatedly replenished.

Recall that earlier Robinhood announced the attraction of $ 363 million in the round of financing series D. According to company representatives, the collected funds will help the company to become the largest cryptocurrency platform.

According to the statement, within the financing round the company was valued at $ 5.6 billion. One of the main investors was DST Global, in addition, Iconiq, Capital G, Sequoia Capital and KPCB took part in the round.

Robinhood officially launched the trade in cryptocurrencies in February, initially making a new service available to residents of five US states. Currently, the application allows you to perform operations with Bitcoin, Ether, Bitcoin Cash, Ethereum Classic, Litecoin and Dogecoin in 17 states. As the developers say, users of the platform are already five million people.

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