Trading app Robinhood seeks $35 billion–plus valuation as it sets terms for IPO
Robinhood Markets Inc.
has set terms forits initial public offering, in which the California-based retail trading app could be valued at up to $35.10 billion. The company is offering 52.375 million Class A shares in the IPO, which is expected to price between $38 and $42 a share, to raise $2.20 billion. Selling stockholders, which include its founders and Chief Financial Officer, are offering an additional 2.625 million shares in the IPO to raise $110.25 million. The company expects to have a total of 835.
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