馃挵 Robinhood Raises $2 Billion in IPO, Attains a Valuation of $32 Billion

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Welcome to Roy Overload, the business, tech and finance newsletter. I'm Scott declary. This is what is making news today. First Story. Robin Hood raised a two billion dollar IPO. They got an a valuation of thirty two billion dollars. Sony goes on record that they just sold ten million ps five consoles, which has been the fastest selling console in Sony playstation history. China goes on record stating that they have no problem with Chinese companies going public in the US after back and forth with regulatory bodies. And it is nft time for Cocacola. All right, let's jump right into it. So, Robin Hood Raises a two billion dollar IPO. Robin Hood was in the news quite a bit lately. The stock trading APP obviously wildly popular amongst retail investors, has attained a valuation of thirty two billion dollars after selling it shares at its IPO at thirty eight dollars a piece, raising nearly two billion dollars. The second quarter data shows that the company has a user base of twenty two and a half million. The application also with witnessed astounding annual growth and its revenue...

...to the tune of five hundred and twenty two million dollars, up from a hundred and twenty eight million, almost a four x multiplier in the same period over the previous year. On its debut on NASDAC, Robin Hood, selling under the Ticker Hood, had decided on a price in the range of thirty eight dollars to forty two dollars per share. Number of share sould a rather total number of shares sold was fifty two point four million, twenty five percent of the total funds raised in the IPO, that is a roughly fifty million worth of shares were sold by each of the founders, Vlad Ten and Bai Ju Bot. In q one of two thousand and twenty one, Robin Hood had a user base of eighteen million, which increased in the second quarter to twenty two and a half million. Backed by this growth in the number of accounts that are tied to a bank account, Robin Hood is expecting second quarter revenue of anywhere between five hundred forty six and five hundred and seventy four million dollars. In q one of two thousand and twenty one, revenue of Robin...

Hood was at five hundred and twenty two million, a more than a four times annual growth from the hundred twenty eight million and q one of two thousand and twenty. Q Two of two thousand and twenty, the revenue was two hundred and forty four million. So they are growing by like hundreds of millions quarter over quarter. In the video game console world, Sony Playstation, they just sold ten million ps five. So they were. They out did the sales of the PSFOUR. The psfive has been the fastest selling console in Sony's history, selling more than ten million consoles. The last published data by Sony shows at the company had sold seven point eight million psfive units up until April, and now we are now sitting in July, they've hit the ten million threshold. Apart from its remarkable the vice sales, Sony has also achieved some milestones around its psfive launch. While the title Spider Man Miles and morals has sold more than six point five million copies, another title, Ratchett and clank rift apart, has sold more than one point one million copies, and these...

...are huge numbers. RETURNAL has sold more than five hundred and sixty thousand copies, and three of these APPs came on the market in November of two thousand and twenty two thousand and twenty one, June of two thousand and twenty one and April of two thousand and twenty one respectively. So these are all relatively new games APPS as well, despite its high sales volume, supply of psfive does remain limited. So there's a global chip shortage. According to Jim Ryan, President CEO of Sony Interactive Entertainment, improving inventory levels remain a top priority for the company. Into International News, China has gone on record saying that they have no problem with their companies listing and going public in the US. Is spite some of the regulatory scrutiny that we've spoken about over the past few weeks. So, according to the China Securities Regulatory Commission, the CSARC Vice Chairman, Fengg Zinghai, Chinese authorities have no problem allowing their companies to go...

...public into the US, as long as they comply with listing requirements. The common holds a special significance after China. These businesses and businesses operating in China witnessed a ton of regulatory action in the past few weeks. Concerns circulated rapidly amongst businesses anticipating an attempt from Beijing to prohibit foreign capital inflows in the Chinese company. While the regulator recognize the importance of enabling a company to track capital, it was against it coming in the way of national security. Vice Chairman Fang zing high cleared the regulator's position during this during its virtual meeting with large investment banks. The fears of an intense crackdown by the Chinese state had also led to days of sharp selling of Chinese stock. Stocks of multinational companies like Ali, Baba and ten cent listed in Asia and the US had also gone down significantly. In one of the most significant instances of a mainstream brand becoming close to blockchain and adopting blockchain and championing blockchain, Coca Cola, by far...

...one of the most identifiable brands in the world, has decided to release a series of NFTS. The aim is to raise money for Special Olympics. The Open Sea nft marketplace will facilitate the auction. It will be held over three days. The digital designer taffy is to create the NFT's inspired by video game loot boxes. They will contain hidden surprises. The nft collections named friendship boxes will include a Cocacola Cooler, a wearable bubble jacket, a friendship card, a sound visualizer playing the audio of a bottle opening, pouring beverage over ice and the fifth sound commonly associated with the carbonated beverages. The bubble jacket can be used in the center a decentral land, an etherium based virtual reality platform. Bids can be placed in ether through OPENCA until August second. And other...

...interesting things I found around the web. A robot arranging domino so a robot created by engineer and Youtuber Mark Rober has arranged one hundred thousand dominos into a Super Super Mario Bros themed mural in roughly twenty four hours. Very cool site. You check it out. Soda scores Big on series C so. The Tokyo based Sneaker Resell Platform Soda has raised fifty six point four million dollars from Softbank Ventures Asia, the early stage venture capital arm of Soft Bank, and spotify. Green Green Room, the clubhouse clone, for lack of a better description, has registered a total of a hundred forty one tho downloads and IOS, and more than one hundred thousand on the Google play store. That's it for today. I hope you enjoyed. If you found value, share with the Friends Family Piers Co workers. They can go subscribe a newsletter dot Roy overloadcom.

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