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Stock broking startup Robinhood is set to go public at an expected valuation of $40 billion. Started in 2013 by two Stanford graduates, it stands among the top three broking platforms in the US with more than 18 million funded accounts, a feat achieved in just six years.
More than half of the customers who opened accounts with Robinhood between 2015 and 2021 were first-time traders, according to the company’s draft prospectus filed with the Securities and Exchange Commission on July 1.
That’s a template several Indian broking startups such as Zerodha, Upstox, Paytm Money and Groww too follow.
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