As Robinhood co-founders prepare for a massive IPO, fintech keeps minting billionaires

Robinhood co-founders Vlad Tenev and Baiju Bhatt are each poised to be worth about $2.6 billion on paper when their trading app debuts on the Nasdaq later this month.

Fintech is capturing an outsized share of the gains, with at least 12 companies that went public through an IPO, direct listing or special purpose acquisition company (SPAC) attaining a market capitalization of $10 billion or more.

The tech industry has minted 16 billionaires in 2021, including those with lower valuations, according to the tech industry’s most recent IPO prospectus.

CNN

Robinhood aims for $35 billion price tag in blockbuster IPO

Robinhood could soon be worth $35 billion.

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Gizmodo

Robinhood to Raise Billions From the Rich, Give None of It to the Poor

Robinhood is aiming for a $35 billion valuation in its forthcoming IPO.

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Robinhood Asks Investors to Ignore Pain in Other Massive IPOs

(Bloomberg) — Robinhood Markets Inc. is asking investors to bet against recent performance history with the terms selected for its initial public offering.The trading app maker that helped fuel meme-stock mania will attempt to raise more than $2 billion in an IPO that should price next week. And the listing, which is set to become one of 2021’s largest, is arriving at a time when other large IPOs are trailing the gains enjoyed by most debuts this year.Robinhood will be the year’s seventh U.S. l

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