The stakes keep getting greater for American discount brokerage Robinhood, which today divulged that it has added numerous countless dollars to its formerly disclosed funding round
. Including the $280 million that the business had already announced, Robinhood said that it was”happy to share “that it “raised an extra$320 million in subsequent closings.” Its now $600 million financing round brings its post-money evaluation to$8.6 billion. Fortune initially reported the news. (A detail, but the new capital belongs to the exact same round as it was raised at the very same cost. TechCrunch reported when the business’s$ 280 million round was revealed, the fintech business was worth $8.3 billion. Another $300 million in capital at a flat share cost indicates that the company’s valuation need to have increased by just the dollar amount included. As it did.)
Robinhood has actually had an excellent company year, even if some of its practices have actually come under fire. The company pledged to tighten up parts of its platform relating to more exotic trading after the suicide of one of its users, for instance; a topic that TechCrunch gone over at length last week.
What is unavoidable is that Robinhood is having one hell of a year. When it may go public isn’t clear, specifically as the personal business is having no problem raising capital without an IPO. But as its worth continues to increase, it becomes an increasingly remote acquisition target.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.