Wealthfront Targets $2.05 Billion Valuation in IPO, Aims for $485 Million

Wealthfront, the automated digital wealth management firm, is pursuing an initial public offering (IPO) in the U.S., targeting a valuation of up to $2.05 billion. The company aims to raise approximately $485 million by offering 34.6 million shares, including shares offered by current stockholders, at a price range of $12 to $14 per share. Wealthfront intends to list its stock on the Nasdaq Stock Market under the ticker symbol "WLTH." Founded in 2008, this IPO attempt follows a terminated acquisition agreement with UBS in 2022, a deal that valued Wealthfront at $1.4 billion. This public offering seeks to capitalize on the recovering U.S. IPO market and gauge investor interest in fintech companies.