Robinhood's CFO says it was ready to go public ' TechCrunch

Robinhoods' CFO stated that the company was ready to go public. However, the company's debut has not caused a stir in the stock market. What's the story?Robinhood was priced at $38 per shares this week. It opened flat and ended its first day trading yesterday with $34.82 per share. This is slightly more than 8% below the closing price. Today was a mixed day for Robinhood, with the stock falling in the early morning and then recovering to breakeven in the late-morning trades.Robinhood didn't make the debut many expected.The Exchange explores markets, startups, and money.It's available every morning at Extra Crunch. You can also subscribe to The Exchange newsletter every Saturday.We won't be wasting our time arguing about banned Chinese IPOs, nor will we have a mega-round discussion for the remainder of the week. Let's instead take a look at some notes that Robinhood's CFO shared with The Exchange about his company's IPO. We will also make some reasonable guesses about why we aren’t wondering how much Robinhood made by pricing its public offering lower then it closed on the first day.We shouldn't be so dick about it. Twitter jokes were allowed yesterday. Get ready to think.Robinhood's public launchWe spoke with Jason Warnick, Robinhood's CFO, earlier this week to find out why Robinhood should go public.No CEO or CFO of a public company will openly declare that they are going public to protect or increase their private valuation due to market conditions.Instead, IPO day executives tend to avoid the question and pivot to a well-oiled bon mot over how their public offering is a milestone in their long-term company's trajectory. Leaders in capitalist societies find it crucial to downplay the importance of their IPOs during an arch-capitalist event by a for profit company.Warnick didn't say Robinhood went public, as the IPO market recently rewarded large-brand tech companies like DoorDash and Airbnb with strong debuts. He didn't mention that the company was set to enter a market willing to value it at an attractive valuation, given its tech shares and high-growth concern.