The crypto-friendly platform Robinhood plans to confidentially file for an initial public offering (IPO) in March. Bloomberg reports, citing its own sources.
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Last week the company discussed with underwriters the possibility of an IPO in the coming weeks. No final decision has been made, and the exact timing of the IPO remains unknown.
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Last year, after the Series G round, Robinhood’s valuation surpassed $11 billion. In early 2021 the company attracted $3.4 billion, despite the scandal around GameStop shares, Dogecoin and Reddit traders.
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The financing raised by Robinhood is planned to be converted into equity. According to the publication, the first tranche will be converted into shares based on the company’s valuation of $30 billion or a 30% discount to the IPO price, whichever proves lower. The second tranche will be converted either at the same discount or at a $33 billion valuation.
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Representatives for the company declined to comment to Bloomberg.
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Earlier ForkLog reported that Robinhood’s audience in January–February grew by 6 million.
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