Robinhood Gearing Up for Potential IPO in Early 2021: Report
Robinhood is looking for a banking team to partner in an IPO that could come next year.
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Retail users have flocked to cryptocurrencies in 2021, with Robinhood reporting an increase in new monthly crypto traders of 15 times last year's average. Retail-focused trading app Robinhood has revealed the number of new monthly customers buying from its crypto platform this year is 15 times the 2020 average.According to the company’s new report, “Crypto Goes Mainstream,”more than three million new users purchased from Robinhood Crypto in January, with more than 2.9 million new users having bought crypto during February so far. As such, Robinhood Crypto’s user base has expanded by 6....
Around 41% of Robinhood’s quarterly revenues were generated by crypto trading. Popular retail trading app, Robinhood, has revealed crypto trading surged in popularity on the platform and now represents 41% of its revenue.According to its second-quarter financial results published Aug. 18, the firm generated $233 million from crypto trading services for the quarter, up from $5 million for the entirety of 2020. More than 60% of funded Robinhood accounts traded digital assets during Q2 2021.With early 2021 witnessing the speculative dog-token trading frenzy, a whopping 62% of Robinhood’s....
Robinhood Markets Inc., the American financial services company headquartered in Menlo Park, California, has seen its initial public offering (IPO) delayed by the U.S. Securities and Exchange Commission (SEC). According to a report citing “people familiar with the matter” the SEC is questioning Robinhood’s cryptocurrency business. SEC Questions Robinhood’s Crypto Dealings, IPO Delayed Robinhood was supposed to be having an initial public offering this month but according to a report from Bloomberg, the listing has been slowed by the SEC. The report cites a few....
The number of Robinhood-related emails for sale outnumber those for other brokerages by about 5-to-1, the report says.
Robinhood, the app that popularized free one-click stock and crypto trading, revealed on Tuesday that it would lay off roughly 340 full-time employees, or around 9% of the 3,800 workforce. The move, according to Robinhood CEO Vlad Tenev, is in response to a decline in active users following a period of rapid growth early in […]