Robinhood to allow users to buy into IPOs, ahead of its own market debut

FILE PHOTO: The welcome screen for the Robinhood App is displayed on a screen in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration/File Photo

(Reuters) -Robinhood Markets Inc on Thursday unveiled a new platform that will give retail investors the opportunity to buy shares in initial public offerings, something that has long been the exclusive domain of Wall Street funds.

The popular online brokerage startup, which is preparing to make public its own IPO paperwork in the coming weeks, is rolling out the investing platform in phases for users of its trading app, a step in its quest to "democratize" finance.