Robinhood has confidentially filed for an initial public offering in what could be one of the year's biggest and most anticipated public listings.
- The number of shares and price of the offering have not yet been determined. The online trading platform operator was valued at $11.9 billion last October, according to PitchBook data, and has raised over $2.1 billion in funding to date.
- Last month, Robinhood raised $3.4 billion in emergency capital led by Ribbit Capital to help it weather a stock trading frenzy sparked by retail investors buying so-called "meme stocks" like GameStop. It also came under fire for restricting trading of those stocks after the volatility ensued for several days.
- The company also recently revealed in a regulatory filing that it plans to pay a fine of at least $26.6 million to settle a probe into its options trading practices and trading outages that occurred last March.