Good morning and welcome to Insider Finance. I m Dan DeFrancesco, and here s what s on the agenda today: The process for nabbing a Wall Street internship can
Public.com is raising another $200 million at a $1 billion pre-money valuation, sources say.
The valuation is at least four times higher than the stock-buying app s last one from December.
Interest in the company surged after last month s Robinhood and GameStop trading controversy.
Investors are scrambling to grab stakes in another hot fintech startup, Public.com, a stock-buying app and competitor to Robinhood.
The startup, which offers a zero-fee trading app that doubles as an online investing community, is raising about $200 million in a financing round led by Tiger Global Management at a $1 billion pre-money valuation, according to two people familiar with the discussions. That means Public.com could be valued at about $1.2 billion post-money.
Public, a commission-free and fractional trading investing app, formally announced the closure of a $15M Series B funding round, led by Accel and Greycroft, Will Smith’s Dreamers VC, NFL star J.J. Watt, Girlboss founder Sophia Amoruso, creator and entrepreneur Casey Neistat, Behance founder. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Trading app Public drops payment for order flow in favor of tips
To which we say, All right
Soon all tech news will be fintech news, all fintech news will be trading platform news and all trading platform news will concern the business mechanics of such services.
So, after looking into Robinhood’s fourth-quarter payment for order flow (PFOF) revenues this morning, we’re back with a related story. This time, however, we’re talking about Public.
And like Robinhood, Public has seen its growth skyrocket in recent days. Company representatives told TechCrunch today it was seeing “steady ~30%” month-over-month growth until Thursday, when “new user signups went up 20x.”