Robinhood is one of the most famous companies in the crypto world. They have quickly established themselves as a commendable company and have been one of the fastest growing companies in the recent era. However, the company seems to be very much cautious about its movement forward recently. This happened because the crypto market has been facing a lot of ups and downs recently. The crypto market is facing some of its darkest times at the moment.
This is because the market is currently plagued by all forms of negativity. In the recent past, the market has experienced a huge downward curve that has made investors fearful about investing. Companies like Ethereum and Bitcoin slumped to new lows during this phase. Coinbase is on the verge of liquidation. Apart from all these, the market has also been plagued by various scams and frauds recently.
Thus, almost every company is very cautious about its approach forward. However, Robinhood seems to have made the most out of the adverse conditions. The company has reportedly garnered a whopping discount of sixty percent from Ziglu. Let us learn more about the story in detail below.
Robinhood Profits 60% From Its Previous Offer To Ziglu
Robinhood has made a huge profit recently as they made their offer go down by almost sixty percent. The company initially made an offer of $170 million as an attempt to buy Ziglu. However, looking at the adverse market conditions, the company was not willing to dish out so much money.
As a result, Robinhood slashed its offer to $72.5 million to which Ziglu agreed to. This deal has made the company a huge profit and has also put a broad smile back on the faces of its officials.