Sequoia Capital Sees Promise in Robinhood
Posted on 04/16/2020
Online brokerage app company Robinhood Markets Inc., which is based in Menlo Park, is raising roughly US$ 250 million in a round led by Sequoia Capital. Despite epic failures on having the app crash on key days, Robinhood claims to have seen record revenue growth during the Wuhan coronavirus pandemic. This fundraise could give Robinhood a valuation of US$ 8 billion.
Sequoia Capital is an existing investor in Robinhood. Other investors in Robinhood include Index Ventures, GV (part of Alphabet), DST Global, Kleiner Perkins Caufield & Byers, and New Enterprise Associates (NEA).