Robinhood was founded in 2013 by Baiju Bhatt and Vladimir Tenev. In an interview with CNBC from October 2019, COO Gretchen Howard noted an IPO would be “a step along the way at some point.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Robinhood operates a zero-commission stock and crypto trading platform. The company has raised over $900 million in Venture Capital funding from investors including Dragoneer Investment Group, SharesPost, CapitalG, ICONIQ Capital, Unusual Ventures, Kleiner Perkins, Sequoia Capital, DST Global, Thrive Capital, Draper Associates, New Enterprise Associates, Sound Ventures, Ribbit Capital, GV, and Index Ventures. Per regulatory filings with the SEC, Robinhood last raised over $430 million in May 2020 at a post-money valuation of $8.3 billion.