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March 15, 2021 5:00 AM Taylor Tepper - Forbes Advisor
Posted:
Updated:
March 16, 2021 9:06 AM
Trading app Robinhood is going public, and its future depends on whether it can evolve to empower fledgling investors to find their inner Warren Buffett or trap them in an unhealthy obsession with speculation and risk.
The Menlo Park, Calif.-based upstart helped transform the brokerage world by pioneering zero-commission stock trading, pushing industry stalwarts like Fidelity, Charles Schwab and E-Trade to follow suit. Its sleek, gamified user experience comes complete with bursts of confetti whenever you trade.
After years of steady growth, Robinhood’s secret sauce proved especially compelling during the Covid-19 pandemic, with Americans locked indoors and eager for any way to keep occupied.
Read more about Online brokerage Robinhood plans confidential IPO filing in March: Report on Business Standard. Online brokerage Robinhood, at the centre of this year s retail trading frenzy, is planning to file confidentially for an initial public offering as soon as March, a report said
By Matthew Monks and Katie Roof
Robinhood Markets Inc., the trading platform behind the boom-and-bust swing in GameStop Corp.’s shares, plans to file confidentially for an initial public offering as soon as March, according to people familiar with the matter.
The company has held talks in the past week with underwriters about moving forward with a filing within weeks, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and the timing could change, the people said.
A representative for Robinhood, based in Menlo Park, California, declined to comment.