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Robinhood debuts IPO access to users

From pitchbook Robinhood has started to allow traders on its platform to buy shares of companies in an IPO. The online brokerage will offer shares that have been allocated to it by underwriters, and it won’t have access to all IPOs. Traders who submit requests to purchase a stock may be given access subject to the[…]

Robinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos

From Zero Hedge: Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks – one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports. Because despite all of[…]

Ribbit, Robinhood’s key fintech VC firm, steps up at pivotal moment

From Pitchbook: Meyer “Micky” Malka, founder and managing partner of venture firm Ribbit Capital, once said his firm had a “boring” strategy of driving financial innovation across banking, brokerages and insurance. But things have gotten decidedly less boring in recent days for Ribbit. The Palo Alto-based firm stepped up to lead $3.4 billion in emergency funding[…]

Robinhood raises $1B after trading halts to keep its platform running

From Tech Crunch After a turbulent week for the stock market and halts to the trading of certain speculative securities including GameStop (GME) and AMC, consumer investing app Robinhood has raised new capital. The new funds total more than $1 billion, with the company telling TechCrunch that they were raised from its existing investor base. The New[…]