Companies active in the world of finance will continue to attract a lot of attention. Robinhood is of great interest as of right now. The free-free stock trading app wants to reach a $5.6bn valuation with their new fundraising round. A rather impressive amount, although one that isn’t exactly impossible to reach.
Most people will know the name Robinhood by now This company has launched an app which revolutionizes stock trading. This is mainly because of their zero-fee approach. Unlike brokers and other intermediaries, not dealing with fees is a more than welcome change. It is only normal this company will continue to look for additional funding as well.
Robinhood has a Healthy Amount of Ambition
A new fundraising round is on the horizon for Robinhood as we speak. Although the firm is currently valued at $13bn, that goal will be smashed quite easily. If everything goes according to plan, the US firm will be valued at $5.6bn when everything is said and done. A remarkably steep amount, albeit one that also seems to make a lot of sense.
One of the reasons why this makes sense is because of the company’s plans. More specifically, Robinhood will let users in five US states buy and sell cryptocurrency. With support for both Ethereum and Bitcoin, the company is heading in a brand new direction. It is a more than welcome way of complementing their existing services. Cryptocurrency is the hot trend as of right now.
Whether or not that is enough to reach the $5.6bn valuation, remains to be seen. It will require a hefty amount of funding to make that happen. At the same time, Robinhood’s venture into cryptocurrency is quite telling. It shows the future looks incredibly bright for this nascent industry as a whole. Exposing more consumers and traders to this new form of money will make Robinhood one of the market leaders of the future.
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