Robinhood, crypto trading and stock exchange startup, has recently announced its plans to go public. Currently, the company is considering for a chief financial officer as part of its long-term policy. This startup could help as the cheaper youthful alternative to E*Trade and traditional stock brokers.
Robinhood has been continuously improving its services. In April 2017 the company had even raised $110 million Series C at a $1.3 billion valuation. In May 2018, Robinhood raised $363 million in a Series D round funding led by DST Global and Sequoia Capital. At that time it was valued at $5.6 billion.
Robinhood, is a U.S.-based financial services company headquartered in Menlo Park, California. As reported in Coinspeaker, for many years the company has been offering Robinhood smartphone mobile app, which lets people learn to invest in the stock market for free. The app is easily obtainable in mobile as well as on the web.
Robinhood CEO Baiju Bhatt revealed that the company is “enthusiastically looking for a CFO. He confirmed that going public is certainly in the company’s plan in the medium- to long-term. He further added that hiring a CFO would further assist companies and traditional stock brokers. It will give them a proficiency and growth rate. Users can invest in stocks, ETFs, options, and cryptocurrencies side by side, all commission-free which would be simply available in one app.
As CoinDesk previously reported, users cryptocurrency assets are held in Robinhood Crypto account, the zero-fee stock trading startup launched Robinhood Crypto in February meant to let users in the U.S. purchase and sell cryptocurrencies at lesser costs. Presently, it provides trading options for bitcoin, ethereum, bitcoin cash, ethereum classic, litecoin, and dogecoin in 17 states in the U.S. and claims to have more than 5 million users on the platform. Users can learn to invest in the stock market and look for new stocks through collections through this app.
The post Crypto Trading Startup Robinhood Prepares Itself For An Initial Public Offering (IPO) appeared first on OWLT Market.
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