Fortune, Sep. 30, 2026

Big companies used to treat retail investors as an afterthought—now, they are at the IPO table

Good morning Term Sheet readers, it’s finance editor, Jeff John Roberts, pinch-hitting for Allie. If you look closely at the tombstone for fitness ring maker Oura’s IPO, you’ll see something unusual. You might have to squint, but there at the bottom, as the 18th of 18 underwriters, is an unfamiliar name: Robinhood, the app once known as a place for kiddies to YOLO trade, which is now sitting at the table with the likes of Goldman Sachs, Morgan Stanley and J.P. Morgan.

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