Robinhood has expanded its board of directors to include John Rubinstein, Paula Loop, and Robert Zoellick. The appointments are linked to Robinhood’s upcoming IPO.
John Rubinstein took over as Lead Independent Director. Rubinstein also serves on Amazon’s board of directors and was formerly Apple’s CEO and CEO of Ray Dalio’s Bridgewater Associates Foundation.
Paula Loop is a partner at the international consulting company PwC. Paula has extensive experience in legal company formation focusing on adjusting to SEC US regulations.
Also thanks to her appointment, a woman will appear on the Robinhood board of directors: a diversified board of directors is essential for companies that want Goldman Sachs as an underwriter for its IPO.
Robert Zoellick is a former president of the World Bank and is now on the board of directors of Twitter.
Previously, CNBC reported that Robinhood could go public for over $ 30 billion.
Global Technologies Private Portfolio clients acquired Robinhood shares in July 2020 at a $9.5 billion valuation.
Robinhood — one of the fastest-growing fintech startups in the United States. The company is developing an application for investing in stocks, ETFs, options, gold and cryptocurrency without commissions.
On May 20, Robinhood introduced a new product — IPO investment for retail investors, which will become another source of the company’s revenue.