Robinhood’s planned arrival on the Nasdaq exchange throws fresh light on the overall fintech sector, both in the public markets and in private equity trading. The IPO, using the symbol HOOD, is currently predicted for the week of July 26, according to Renaissance Capital. (Marketwatch July 3)
The company has had a remarkable impact on the retail stock trading industry. Over the past five years, almost half of all new retail accounts in the US were opened on Robinhood. And its introduction of no-fee transactions was swiftly copy-catted by most of the established players. From the beginning, Robinhood’s easy-access user interface and gaming-style community features appealed to a younger demographic of first-time investors. And the company certainly benefitted from Covid19-related restrictions on social gatherings and public entertainment, with many of its customers having time on their hands and stimulus checks to spend.
Robinhood‘s IPO comes less than three months after Coinbase’s public market debut back in April. Like Robinhood, Coinbase has simplifed access to complex financial transaction and investment systems by deploying intuitive and innovate tools in the retail consumer market.
The two unicorns were among those discussed during the recent Global Investor Conference in a conversation between Bill Sarris, CEO of Linqto and Joe Endoso, Managing Director of Enverra Capital. As Bill pointed out, Coinbase and Robinhood were two of the original companies offered in Linqto’s suite of private equity products. Customers who acquired an interest in Coinbase equity on the Linqto platform were generously rewarded when the company went public on April 14.
WATCH THE “HOW TO DIVERSIFY YOUR PRE-IPO PORTFOLIO” PANEL