One of the most popular crypto trading apps and mobile investment platforms, Robinhood, is now ready to lift itself through an initial public offering (IPO). After launching as a zero-commission cryptocurrency trading service earlier this year, the startup is now searching for a chief financial officer (CFO) that would take the company to new heights.
The CEO of Robinhood was first to announce this while speaking at a TechCrunch even on Thursday this week. The CEO, Baiju Bhatt, revealed that Robinhood is “actively looking for a CFO” and going public is “definitely” the company’s plan in the medium to long-term.
As he stated:
“Being a public company I think aligns very closely with our mission as well. And it’s definitely on the horizon, not in the immediate term, but that’s something we are thinking about.”
Bhatt also said that as a financial service company, everything is being audited by financial regulators in the US such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority.
Meanwhile, in May Robinhood announced that it raised $363 million in a Series D round funding led by DST Global and Sequoia Capital, which valued the firm at $5.6 billion. This made Bhatt believe that the company could easily “become either the largest or one of the largest crypto platforms out there” by the end of this year.
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