Trading app Robinhood Markets says it filed confidentially for IPO

Robinhood Markets, the popular trading app, has filed papers for an initial public offering (IPO) with the US Securities and Exchange Commission, according to people familiar with the matter.
 
Robinhood is moving forward with its IPO although its listing plans could change, said the people, who asked to not be identified because the matter isn’t public.
 
Bloomberg News previously reported that Robinhood was planning to file for an IPO this month. The company has selected Nasdaq as the venue for its listing, people familiar with the matter have said.
 

A representative for Robinhood, based in Menlo Park, California, declined to comment.

 
Robinhood became immensely popular during the coronavirus pandemic, particularly as homebound young people turned to online trading to pass the time and make money.
 

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