Robinhood is set to go public just a few months after settling claims withFINRA.
Form S-1 states that Robinhood has 18million accounts with $ 80.9 billion in customer assets. The company earned $ 7.45 million in profit last year, increasing revenue 245% over the previous year.
The broker closed the first quarter of this year with a loss of $1.4 million due to the situation with GameStop shares.
About half of the company's revenue comes from selling trading data to large Wall Street firms such as Citadel.This data can give you an edge in market trading.
Robinhood's document indicates that 17% of total revenue last quarter came from sales of crypto trading data, with more than a third of that amount coming from Dogecoin alone.It is one of the few individual assets that is detailed in the IPO offer documentation.
The company plans to allocate up to 35% of its shares to individual investors and raise at least $ 100 million.
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