Robinhood, popular app for small investors which rocked the stock market during the retail public investment rush earlier this year, announced it was aiming for a valuation of up to $ 35 billion in its initial public offering (IPO) on Wall Street, according to the same company in a communication to the SEC. As part of the IPO, approximately 55 million shares will be offered, with the aim of raising over $ 2.3 billion. Nearly 2.63 million of these shares will be offered by the founders of the company, according to the document filed with the SEC. The shares are expected to be priced between $ 38 and $ 42.
According to data released a few weeks ago, Robinhood generated a net profit of $ 7.45 million on revenues of $ 959 million in 2020, compared to a loss of $ 107 million on $ 278 million in the year. previous one. In yesterday’s communication, he released new data: now estimates to have 22.5 million profiles linked to a bank account, up from 18 million in the first quarter of 2021. It also expects Q2 2021 revenue between $ 546 million and $ 574 million, up 129% from $ 244 million in Q2 2020 and up from $ 522 million in Q1 2021.
If the IPO were to actually raise more than $ 2.3 billion, it would be the fifth largest on the US stock exchange since the beginning of the year. 2021 has already set an all-time record with 648 companies raising a total of around $ 218 billion, according to Bloomberg’s calculations.