Robinhood Aims for $35 Billion Market Valuation in Upcoming IPO – Bitcoin News

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An amended prospectus filed yesterday by Robinhood indicates the company is aiming to get a valuation of up to $35 billion in its upcoming IPO. The fee-free options, cryptocurrency, and stock trading service is expecting to sell up to 55 million shares and raise more than $2 billion when the IPO launches next week.

Robinhood Aims for $35 Billion Valuation

Robinhood, the fee-free, trade-it-all exchange, is aiming to achieve a valuation as high as $35 billion in its upcoming IPO, according to an amended prospectus filed with the SEC on Monday. The exchange, which is reportedly going public as soon as the next week, expects to sell about 55 million shares in its IPO to raise more than $2.3 billion in the process, with a share price in the range of $38 to $42.

The exchange, whose self-imposed mission is to democratize access to investment products, reached a valuation of $11.7 billion last September. At the time, Robinhood raised $460 million in an extension of its Series G funding round, with the participation of Andreessen Horowitz, Sequoia, DST Global, Ribbit Capital, 9Yards Capital, and D1 Capital Partners.

Robinhood had a very strong first quarter, fueled by an increase in trading interest due to Covid-19 and other factors. During…

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