A Robinhood IPO is in the works as the cryptocurrency startup searches for more expert help.
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 5 million customers, 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 Coin Telegraph. “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.