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    PartsTech, a Boston-based car component startup, bags $35 million

    PartsTech, a Boston-based car component startup, bags $35 million

    Gradiant raises $225 million in Series D, enters the unicorn club

    Gradiant raises $225 million in Series D, enters the unicorn club

    Ohmium, a green hydrogen startup closes $250 million Series C

    Ohmium, a green hydrogen startup closes $250 million Series C

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      PartsTech, a Boston-based car component startup, bags $35 million

      PartsTech, a Boston-based car component startup, bags $35 million

      Gradiant raises $225 million in Series D, enters the unicorn club

      Gradiant raises $225 million in Series D, enters the unicorn club

      Ohmium, a green hydrogen startup closes $250 million Series C

      Ohmium, a green hydrogen startup closes $250 million Series C

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      Robinhood Founders Gearing up for Massive IPO Later this Month

      USTechTimes Editor by USTechTimes Editor
      July 21, 2021
      Robinhood Founders Gearing up for Massive IPO Later this Month

      With the new Robinhood features customers could manage all their crypto holdings through a wallet in the app.

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      As the Fintech market soars high, minting billionaires by the month, California-based online brokerage startup Robinhood market Inc. is all set to go public eyeing a market valuation of around $35 billion. The company has already found itself embroiled in this year’s meme stock phenomenon and was rated high by punters.

      The year 2021 witnessed a billionaire boom in the fintech sector, with Coinbase’s co-founder leading the ranks and followed on the heel by founders of companies like Affirm and Marqeta. Silicon Valley has been trying to tame the banking incumbents for a long and taking them by the horn with innovation and technology, easing banking services for a better customer experience.

      Robinhood files updated IPO prospectus

      The experience got accentuated by emerging trading apps and payment upstarts riding on the back of which online lenders are achieving big public market valuations. In an updated IPO prospectus as part of regulatory filing carried out on July 19, 2021, the company mentioned that it would price the 55 million shares in a range of $38 to $42 per share. The company will raise around $2.3 billion if shares are sold at the high end of the range.

      The Californian startup is mulling to list on the Nasdaq under the ticker symbol ‘HOOD,’ providing its investors a chance to be a part of a fast-growing company that has pepped up the traditionally sedated brokerage business and opening it up for better participation.

      Some offerings to be reserved for app users

      Stanford roomies Vlad Tenev and Baiju Bhatt, founders of Robinhood who met each other almost a decade back, are offering almost 2.63 million of those shares, the filing showed. Proceeds from those will not go to Robinhood. Once the listing concludes, CEO Tenev and creative officer Bhatt will each have 7.9 percent of the company’s outstanding shares, as per the filing.

      Robinhood plans to reserve some of its offerings for users of the trading app. The filing said between 20 and 35 percent of shares will be allocated to users, dependent on demand from customers and other investors.

      Till July this year, at least 12 companies went public through an IPO, direct listing, or through a special purpose vehicle (SPAC), clocking a market capitalization of around $ 10 billion and more. Out of these companies and few others with lower valuation, the tech industry alone had minted around 16 billionaires in 2021.

      Related Posts

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        Uruguay-based payment startup DLocal confidentially files for US IPO

        The Uruguay-based company DLocal, a payment startup, has confidentially filed for a US initial public…

      • Sprinklr
        Software startup Sprinklr targets $5 billion valuation with its forthcoming IPO

        Software startupSprinklr, which began in 2009 in a spare bedroom in founder and Chief Executive…

      Tags: RobinhoodtradingUS IPO
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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