Robinhood, a high-flying online investment service, has officially announced to have paperwork filed to take the company public. The company is very much popular among young investors and traders. It has shown immense growth even in times of pandemic as its user-base increased, most of which are the Millenials. There were many financial crunches but the company has marked up its positions. The revenue of Robinhood surged 245 percent in 2020 to USD 959 million and talking about the assets valuation it is around USD 81 billion under custody. The company, at the outset of the Form S-1, the official prospectus to the Securities and Exchange Commission, said that its mission is to democratize finance for all.
The market size of the offer of company has not yet been determined. Goldman Sachs and JPMorgan Chase lead the share offering. The company was originated in 2013 by Vladimir Tenev and Baiju Bhatt, who met as students at Stanford University. Robinhood's growing number of retail investors played a major role in the so-called "Reddit Rebellion”, which saw retail investors gathering on the Reddit social network in 2021 to support top-tier stocks like GameStop and BlackBerry. Many longtime investors and financial commentators have been amazed by the tremendous movements in these stocks and have warned that strategies such as these could result in potential losses for individual investors. But Robinhood disproved these critics, noting that it takes pride in serving this next generation of investors, and it is painful to see them constantly being criticized in news reports.
