Robinhood Markets has landed its first official IPO underwriting role, joining the syndicate for smart-ring maker Oura, while separately striking a multiyear deal with Crypto.com to add yes-or-no event contracts to its trading platform.
Oura filed on September 3 to list on Nasdaq under ticker “OURA,” targeting a valuation above $16 billion, up from about $11 billion in its October 2025 funding round. Robinhood is listed 18th and last among underwriters, behind lead bookrunners Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co. and Jefferies. Although its fee share is likely small, the role gives Robinhood a seat at the table in IPO allocations. Oura reported about $1.4 billion in revenue for the 12 months ending June 30, a 74% year-over-year increase, and net profit of $60.77 million, up from $1.57 million. Robinhood Ventures Fund I invested in Oura, which now makes up 3.64% of the fund; former Robinhood CFO Jason Warnick sits on Oura’s board.
In the second announcement, Robinhood agreed to take minority stakes in Crypto.com and its prediction-markets unit OG. Crypto.com was valued at $15 billion and OG at $5 billion after Citadel Securities bought into both in July. Financial terms were not disclosed. Robinhood VP JB Mackenzie said the partnership will improve pricing and expand contract offerings ahead of football season and midterm elections. The companies are also in talks about equity-linked perpetual futures pending regulatory approval. Crypto.com is preparing for an IPO and sees the deal as pulling more traders and institutions onto OG. HOOD stock traded around $126.40 in premarket, up about 3.40%.
