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Now companies that set aside IPO shares for retail investors via Robinhood can start allocating a certain amount of shares for “friends and family”—meaning employees, customers, vendors, or others with ties to the company going public.
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Robinhood says this will “facilitate meaningful community-driven interactions between companies going public and the individuals who have been a part of their journey leading up to the IPO,” according to a statement on its blog where it announced the new program Wednesday.
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