Robinhood Seeks $35 Billion Valuation in I.P.O.
The popular stock-trading app said it planned to sell shares at $38 to $42 each.
Robinhood seeks a $35 billion valuation in its I.P.O.
Vlad Tenev, the chief executive of Robinhood.Credit…Brendan Mcdermid/Reuters
July 19, 2021, 7:14 a.m. ET
Robinhood disclosed the expected price range for its initial public offering on Monday, putting the popular stock-trading app one step closer to itself trading on the markets.
In an updated prospectus, Robinhood said it planned to sell shares at $38 to $42 each. At the midpoint of that range, it would raise $2.2 billion and be valued at about $33 billion; at the high end, it would be worth about $35 billion.
The announcement will formally kick off the final part of Robinhood’s long road to going public: a roadshow where the company will pitch prospective investors on itself. It is set to begin trading on the Nasdaq market by the end of next week.