Robinhood has 18 million accounts with $80 billion in assets after rapid growth, IPO filing shows

▤ Summary

Robinhood Markets filed for one of the most anticipated initial public offerings of the year on Thursday, revealing rapid growth resulting in 18 million retail clients and more than $80 billion in customer assets. The millennial-favored stock trading app found itself in the middle of a firestorm in January amid the short squeeze in GameStop, which was partially fueled by Reddit-driven retail investors. Robinhood paid the Securities and Exchange Commission $65 million after being charged with misleading customers about how the app makes money and failing to deliver the promised best execution of trades. Robinhood was also sued for wrongful death by the family of Alex Kearns, a 20-year-old customer who took his life last summer after believing he had racked up big losses on the millennial-favored stock trading app. Sign up for our weekly, original newsletter that goes beyond the list, offering a closer look at CNBC Disruptor 50 companies, and the founders who continue to innovate across every sector of the economy.

▦ Linked Companies

Robinhood Markets, Inc.

$1M to $5M