The Menlo Park-based startup behind the app is said to soon raise around $250 million, led by seminal VC fund Sequoia Capital, a returning investor.
[Read: Data says Robinhood users are really bad at portfolio diversification]Robinhood‘s revenue has seen record growth during the coronavirus pandemic, reportedly around $60 million in March.
Robinhood users are still salty about that downtimeHowever, the app has suffered a slew of sudden service interruptions over the past few months, leaving many traders to miss potential gains.
We later learned that Robinhood had maxed out credit lines worth $200 million during the increased volatility.
Instances of Robinhood compensating users for $75 over the downtime have since surfaced, but those who accept reportedly must agree not to sue the company.

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