Robinhood is ready to go public this year. Reports from Bloomberg suggests that the crypto and stocks trading company may release its filings next week. However, the company has not set a specific date for the release of its official documents.
Plans have been made to make this a success for some time now, and it seems the long awaited launch will happen soon. This will make individuals who want to invest have access to the company’s financial details. All necessary information about the company will be open for investors.
Over the past one year, Robinhood has grown from being just another trading app to one that lots of users utilize due to its easy and user friendly interface. Since late last year till date, the number of traders using the app has grown by more than 600%.
A lot of investors can’t wait for the company’s IPO to be fully launched. In the past year, companies like Airbnb, DoorDash and Coinbase have successfully gone public. Some traders and investors expect Robinhood to hit in a similar fashion. However, while Robinhood has grown explosively in recent times, the company has not always caught the news headlines for good.
Robinhood in the Bad Books of Some Investors
Earlier this year, the company came under intense criticism from the masses after it disallowed traders at a point from buying the GameStop stock. Users were unhappy that the app, who claimed to be democratizing finance were in fact doing the opposite and taking sides with the big players in the market.
It was amidst this chaos that the Robinhood kicked off its IPO filing process which is about to be wrapped up. A few other times too, Robinhood has been criticized for having glitches at crucial times for buying and selling crypto assets. The company however aims to improve its services for the masses and put all its negativities behind. This will surely spur the company’s finances and value.