US Online Brokerage App Robinhood Files for IPO with SEC: "Planning Nasdaq Listing in Q2 This Year"

[Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Robinhood, an online securities application (app) popular among individual investors in the United States for its zero commission fees, has reportedly submitted a listing application to the U.S. Securities and Exchange Commission (SEC) for a New York Stock Exchange listing.

On the 23rd (local time), Bloomberg News, citing sources familiar with the matter, reported that Robinhood is expected to be listed on the Nasdaq as early as the second quarter.

CNBC reported that during last year's fundraising process, Robinhood's corporate valuation was estimated at $12 billion (approximately 13.6 trillion KRW).

Robinhood, a free stock trading app, has gained great popularity among U.S. individual investors following the COVID-19 pandemic.

According to data recently compiled by JMP Securities citing SimilarWeb, the number of Robinhood app downloads in February reached 2.1 million, a 55% increase compared to the same month last year.

The average monthly downloads of the Robinhood app surged starting last year (1,419,972 downloads), following 566,960 downloads in 2018 and 787,569 downloads in 2019.

This content was produced with the assistance of AI translation services.