A Robinhood IPO is in the works as the cryptocurrency startup searches for more expert help.
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Here are a few things to know about the Robinhood IPO.
- The intention for an IPO was announced by company CEO Baiju Bhatt during a talk at TechCrunch Disrupt SF.
- According to the Robinhood CEO, the company is currently searching for a CFO to help it with the IPO.
- The push for an IPO comes after five years of business, as well as solid earnings and revenue thanks to its Robinhood Gold subscription service.
- The company also makes money by collecting interest on funds that are stored with it by investors.
- Its other main way of pulling in cash is through selling order flow to stock exchanges.
- What Robinhood doesn’t do is take out fees from its users that trade via its service.
- This may not seem like as a strong of a way to make cash as adding transaction fees, Robinhood gets around that due to its large number of users.
- The company currently has , which is a large amount for it only having about 250 employees.
- A Robinhood IPO may also make sense for the company as its value has grown to a total of $5.6 billion.
“Being a public company I think aligns very closely with our mission as well,” Robinhood CEO Baiju Bhatt said in a statement obtained by . “And it’s definitely on the horizon, not in the immediate term, but that’s something we are thinking about.”
As of this writing, William White did not hold a position in any of the aforementioned securities.
