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Robinhood Sets Sights on a $35 Billion Valuation in Its IPO

  • Trading app seeks to raise more than $2 billion in offering
  • Analysts estimated a $13 billion to $40 billion valuation
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Robinhood Aims to Raise More Than $2 Billion in IPO
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Robinhood Markets Inc. is seeking a valuation of $35 billion in its initial public offering, just short of the highest analyst projections, as the free trading app advances toward a debut likely to draw in buyers from its own novice investor base.

The company at the center of this year’s meme stock frenzy will market 55 million shares for $38 to $42 each, according to a filing Monday with the U.S. Securities and Exchange Commission. Bloomberg Intelligence in March estimated that Robinhood could be valued in a range of $13 billion to $40 billion.