Robinhood points to the stock market, being one of the largest startups in the world

3년 전

In previous occasions we have treated issues related to this company, being one of the startups with the highest success rate in the world, being the exchange platform with the name of Robinhood, in honor of its quality of not having positions when conducting negotiations with financial actions and cryptocurrencies.

Now valued at $ 5.6 billion, free stock trading application and cryptocurrency exchange Robinhood is beginning preparations to go public.

Only a year and a half ago, it was still largely off the radar. But then it raised a Series C of $ 110 million with a valuation of $ 1.3 billion in April 2017 and then, a year later, it obtained a Series D of $ 363 million, both led by the Russian-backed firm DST Global.

Combined with the growth of its premium subscription to operate in a margin called Robinhood Gold, the startup now has the firepower and revenues to make a viable debut on Wall Street.

Today, during the presentation of Robinhood CEO Baiju Bhatt at TechCrunch Disrupt SF, he revealed that his company is on track for an initial public offering (IPO) and has begun looking for a CFO. It also undergoes constant audits of SEC, FINRA and its security team to make sure everything is kosher and is well closed.

The CFO lease could help the five-year Silicon Valley startup become the most economical youth alternative for E * Trade and traditional brokers.

They would also have to convince potential investors that, although the prices of cryptocurrencies are in a downward phase, allowing people to trade with them more cheaply than competitors like Coinbase is a powerful user acquisition funnel.

Since the startup has raised a total of $ 539 million to date from prestigious investors such as Andreessen Horowitz, Kleiner Perkins, Sequoia and Google Capital G, which allows it to launch products quickly before its rivals can react, it basically It is slowly taking over the market. However, his CEO mentioned that he believes in commercial "friendship", referring to the fact that a monopoly is not in his current plans, they want to enter the stock market to expand.

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