Trading app Robinhood Markets Inc. said it expects to raise about $2 billion in its initial public offering, which would give it a market value of about $33 billion, according to a securities filing Monday.
Robinhood would sell about 52.4 million shares in the offering, and other stockholders would sell about 2.6 million. At the $40-a-share midpoint of the offering range, Robinhood would raise about $2 billion.
The Menlo Park, Calif.-based company operates a stock-trading platform for individual investors.
In the first quarter of 2021, Robinhood recorded revenue of $522.2 million, the company said in a regulatory filing. It posted a loss of $6.26 a share. In the first quarter of 2020, the company’s net loss was 23 cents a share on revenue of $127.6 million.
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