Wealthfront IPO: WLTH Debuts on Nasdaq After $485M Raise, Rings Opening Bell, and Tests Consumer Fintech Appetite
Wealthfront began trading on Nasdaq Friday after pricing its IPO at $14 per share, raising about $485 million and valuing the company near $2 billion. The Palo Alto-based robo-adviser sold 34.6 million shares, with 21.5 million from the company and the rest from existing holders. CEO David Fortunato and co-founders rang the Nasdaq Opening Bell in Times Square.