Robinhood’s IPO
July 29, 2021
Cravath represented Robinhood in connection with its initial public offering. Robinhood raised approximately $1.9 billion of net proceeds in the IPO. Shares began trading on July 29, 2021 on the NASDAQ exchange.
The Cravath team included partner Andrew J. Pitts and associates Claudia J. Ricciardi, Ellen H. Park, Margaret R. Fleming and Courtney T. Seager on capital markets matters; partners John W. White, Mark I. Greene, Thomas E. Dunn and Aaron M. Gruber, of counsel Kimberley S. Drexler and associates Ashley Gust, Kyra E. Ferber and Katharine E. Waldman on corporate governance and board advisory matters; partners Stephen L. Gordon and J. Leonard Teti II on tax matters; partner Jonathan J. Katz and associates Anna Mikaelyan and David Crampton on executive compensation and benefits matters; and partner David J. Kappos and associates Rohan E. George and Pedraam Mirzanian on intellectual property matters. Glory P. James, Jason O. Rooindej, William Tong and Cierra Coury also worked on capital markets matters and Julia Nagle worked on corporate governance and board advisory matters.
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People
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M.B.A., 1995, Boston Universitywith High Honors
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J.D., 1994, Boston University School of Lawsumma cum laude
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B.A., 1988, Trinity College
- New York
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J.D., 2015, Harvard Law Schoolcum laude
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B.A., 2012, University of PennsylvaniaPhi Beta Kappa, summa cum laude
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J.D., 1973, New York University School of LawOrder of the Coif, cum laude
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B.S., 1970, University of Virginiawith Honors
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J.D., 1993, University of Pennsylvania Law School
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B.A., 1989, Cornell University
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J.D., 1992, Duke Law Schoolsumma cum laude
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B.A., 1987, The College of William & Mary
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J.D., 2007, Stanford Law SchoolOrder of the Coif
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M.Phil., 2004, University of CambridgeGates Cambridge Scholar
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B.S., 2003, Yale Collegesumma cum laude
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J.D., 1997, Yale Law SchoolCoker Fellow
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B.A., 1993, University of VirginiaHighest Distinction, Echols Scholar, Phi Beta Kappa
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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LL.M., 2013, New York University School of Law
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J.D., 2007, Benjamin N. Cardozo School of LawOrder of the Coif, Dean's Distinguished Scholar, summa cum laude
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B.S., 2003, Cornell University
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J.D., 1990, University of California, Berkeley, School of Law
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B.S., 1983, University of California, Davissumma cum laude
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J.D., 1981, Harvard Law Schoolcum laude
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A.B., 1978, Cornell Universitycum laude
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Related News & Insights
Deals & Cases
November 26, 2025
Robinhood’s Joint Venture and Partnership with Susquehanna to Operate CFTC-Licensed Exchange and Clearinghouse
On November 25, 2025, Robinhood Markets, Inc. (“Robinhood”) announced it is extending its prediction markets offering through a new joint venture and partnership with Susquehanna International Group (“Susquehanna”) to operate a CFTC-licensed exchange and clearinghouse. Robinhood will serve as the controlling partner. The independent joint venture will serve Futures Commission Merchant platforms with futures and derivative products, including prediction markets. The venture will accelerate delivery of its services by acquiring MIAXdx, a CFTC-licensed Designated Contract Market, Derivatives Clearing Organization and Swap Execution Facility, and wholly-owned subsidiary of Miami International Holdings, Inc. (“MIAX”). MIAX will remain invested through a strategic 10% equity stake in the exchange. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
November 19, 2024
Robinhood’s Acquisition of TradePMR
On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
November 15, 2023
Robinhood Defeats Certification of Proposed Class Asserting Securities Claims in Sprawling “Meme Stock” Litigation
On November 13, 2023, the U.S. District Court for the Southern District of Florida denied plaintiffs’ motion to certify a class asserting market manipulation claims under the federal securities laws against Cravath clients Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC (together, “Robinhood”).
Deals & Cases
September 01, 2023
Robinhood’s Purchase of Shares, Previously Owned by Emergent Fidelity Technologies, from U.S. Marshals Service
Cravath represented Robinhood Markets, Inc. (“Robinhood”) in its Share Purchase Agreement (the “Share Purchase Agreement”) with the United States Marshals Service (the “USMS”), acting for and on behalf of the United States, pursuant to which Robinhood agreed to purchase 55,273,469 shares of the company’s Class A common stock (the “Shares”) from the USMS for an aggregate purchase price of $605,694,411.59, or approximately $10.96 per share. The transaction closed on August 31, 2023.
