ReutersBengaluru: Robinhood, the online brokerage at the center of Wall Street's recent retail trading frenzy, has disclosed paperwork for its floatation on the Nasdaq, setting the stage for one of the most hotly anticipated initial public offerings (IPOs) of the year.
In December, Reuters reported that the app had picked Goldman Sachs Group Inc. to lead preparations for an IPO, which could value it at more than $20 billion.
Robinhood's move to go public comes months after the company found itself at the centre of a confrontation between a new generation of retail investors and Wall Street hedge funds in late January.
Menlo Park, California-based Robinhood was founded in 2013 by Stanford University roommates Vlad Tenev and Baiju Bhatt. The company's platform allows users to make unlimited commission-free trades in stocks, exchange-traded funds, options and cryptocurrencies.
In December, Reuters reported that the app had picked Goldman Sachs Group Inc. to lead preparations for an IPO, which could value it at more than $20 billion.
Robinhood's move to go public comes months after the company found itself at the centre of a confrontation between a new generation of retail investors and Wall Street hedge funds in late January.
Menlo Park, California-based Robinhood was founded in 2013 by Stanford University roommates Vlad Tenev and Baiju Bhatt. The company's platform allows users to make unlimited commission-free trades in stocks, exchange-traded funds, options and cryptocurrencies.