1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 ReadFILE PHOTO: The Robinhood App is shown on a screen in this January 29, 2021 photo illustration. REUTERS/Illustration/File/Brendan McDermid Reuters/Reuters/Reuters/Reuters/Reuters/Reuters/Reuters/Reuters/Reuters/ On Thursday, Robinhood, the online brokerage at the center of Wall Street’s recent retail trading frenzy, filed papers for its IPO on the Nasdaq, paving the way for one of the year’s most keenly anticipated IPOs. According to Reuters, the app has chosen Goldman Sachs Group Inc to manage preparations for an initial public offering (IPO), which could value it at more than $20 billion. In late January, Robinhood was at the center of a fight between a new breed of retail investors and Wall Street hedge funds, which led to the company’s decision to go public. Robinhood was launched in 2013 by Stanford University roommates Vlad Tenev and Baiju Bhatt in Menlo Park, California. Users can conduct limitless commission-free transactions in stocks, exchange-traded funds, options, and cryptocurrencies using the company’s platform. Anirban Sen and Noor Zainab Hussain in Bengaluru contributed reporting, and Sriraj Kalluvila edited the piece./n
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