Robinhood Markets, Inc.
(Note: Robinhood filed terms for its IPO on July 19, 2021. Robinhood’s long-awaited S-1 filing for its IPO came on Thursday, July 1, 2021 – a day after Robinhood paid a record $70 million fine to FINRA. Robinhood filed confidential IPO paperwork in March.)
Robinhood was founded in 2013 by Vladimir Tenev and Baiju Bhatt. Our founders deeply believe that everyone should have access to the financial system. Our mission is to democratize finance for all. We are creating a modern financial services platform for everyone, regardless of their wealth, income or background. The stock market is widely recognized as one of the greatest wealth creators of the last century. But systemic barriers to investing, like expensive commissions, minimum balance requirements and complicated jargon-filled paperwork, have dissuaded millions of people from feeling welcome or able to participate.
Over half of 18- to 44-year-olds in the United States know who Robinhood is, according to an internal brand study that we conducted in March 2021. As a further sign of our relevance today, Robinhood reached the No. 1 spot on the Apple App Store multiple times in the first quarter of 2021.
As of March 31, 2021, we had 18.0 million Net Cumulative Funded Accounts on our platform, and from Jan. 1, 2015, to March 31, 2021, over half of the customers funding accounts on our platform told us that Robinhood was their first brokerage account.
(Note: Robinhood Markets priced its IPO at $38 – the low end of its $38-to-$42 price range – and sold 55 million shares, the same number of shares in the prospectus, to raise $2.09 billion.)
|Industry:||Online brokerage platform and mobile app|
|Address||85 Willow Road, Menlo Park, California 94025|
|Phone Number||(844) 428-5411|
|View Prospectus:||Robinhood Markets, Inc.|
|Revenues||$1353.45 mil (last 12 months)|
|Net Income||$-1489.85 mil (last 12 months)|
|Price range||$38.00 - $38.00|
|Est. $ Volume||$2090.0 mil|
|Manager / Joint Managers||Goldman Sachs/ J.P. Morgan/ Barclays/ Citigroup/ Wells Fargo Securities|
|CO-Managers||Mizuho Securities/ JMP Securities/ Piper Sandler/ KeyBanc Capital Markets/ Rosenblatt Securities/ BMO Capital Markets/ BTIG/ Santander/ Academy Securities/ Loop Capital Markets/ Ramirez & Co./ Siebert Williams Shank|
|Expected To Trade:||7/29/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|