Robinhood IPO on NASDAQ with $32 Billion Market Value, Founders Become Billionaires $2 Billion Each
30th July 2021 | Hong Kong
Robinhood, the United States commission free brokerage, has IPO on NASDAQ at a market capitalisation of $32 billion ($38) with share price dropping 8% on day 1 (29/7/21: Closing $34.82, $29 billion market cap). The IPO also turned founders Stanford University roommates Vlad Tenev (Age 34, CEO & President) and Baiju Bhatt (Age 36, Chief Creative Officer & Director) into billionaires with $2.1 billion and $2.4 billion each. The IPO underwriters are Goldman Sachs and JP Morgan Chase, with 20% to 35% of shares allocated to Robinhood users, selling 52.4 million of shares and raising $2 billion in IPO proceeds. (IPO ~ Initial Public Offering)
“ Robinhood IPO on NASDAQ with $32 Billion Market Value, Founders Become Billionaires $2 Billion Each “
Robinhood, Commission Free Brokerage

Robinhood was founded in 2013 by Stanford University roommates Vlad Tenev (CEO & President) and Baiju Bhatt (Chief Creative Officer & Director) to give everyone access to financial markets, upon discovering big Wall Street firms were paying next-to-nothing to trade stocks, while most Americans were charged commission for every single trade.
Robinhood commission free investing forced the brokerage industry to drop commissions and in 2020, became the 3rd largest brokerage behind Fidelity and Charles Schwab.
Robinhood easy-to-use trading platform is popular among young investors and students. Robinhood provides commission free investing to United States listed securities and selected OTC securities. Investors can invest from $1 onwards, providing equity, cryptocurrency, options trading and cash management accounts. In 2021 Q1, Robinhood has 18 million clients and with around $80 billion of assets.
In 2020, Robinhood reported revenue of $959 million and net income of $7.45 million. In 2021 Q1, Robinhood reported a loss of $1.4 billion due to losses incurred from GameStop trading frenzy.
Voting Power of Co-Founders:
- Vlad Tenev, CEO & President: 26.3% (Age 34, $2.1 billion share value)
- Baiju Bhatt Chief Creative Officer & Director: 39% (Age 36, $2.4 billion share value)
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