Robo-Adviser Wealthfront, Backers Seeking $485 Million in IPO

Wealthfront Corp. and some of its shareholders are seeking to raise $485 million as the robo-advisory firm seeks to go public.

The Palo Alto, California-based company plans to market shares for $12 to $14 each, according to its filing on Tuesday with the US Securities and Exchange Commission. Wealthfront is offering 21.47 million shares, while some of its backers are offering 13.15 million shares.