Ro Stock: IPO Foreplay or Premature Speculation?

Explore opportunities to invest in the Ro stock before a potential Ro IPO.

Invest in pre-IPO companies like OpenAI, Anduril, and Databricks via the Fundrise Innovation Fund*.

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Notable Ro News

04/29/2025: Charles Barkley Partners With Ro
10/22/2024: Ro CEO not rushing IPO
12/13/2023: Zepbound Now Available Through Ro Body Program
08/02/2022: Ro’s co-founder is leaving the company
Older news…

About Ro

Ro is a New York City-based digital telehealth company that provides online prescriptions and ordering for sexual health, weight loss, hair issues, and fertility treatments. 

Zachariah Reitano, Saman Rahmanian, and Rob Schutz founded the startup in October 2017, launching initially as Roman. The company was inspired by Reitano’s personal health challenges — a heart condition that led to stigmatized ED treatment, and inspired a software-driven solution.

In September 2018, Roman rebranded as Ro and expanded offerings to include hair loss, cold sores, and premature ejaculation.

Its core business today operates under three main clinics: Roman (men’s health), Rory (women’s health), and Zero (smoking cessation), alongside Ro Pharmacy, which offers telemedicine-supported access to FDA-approved medications for weight management.

The company also offers remote care subscriptions, including its “body program” for individuals with obesity. It has formed a notable partnership with Eli Lilly to distribute Zepbound weight-loss treatments via telehealth.

Ro competes with telehealth leaders such as Teladoc, Amwell, Hims & Hers, and faces emerging pressure from big tech companies like Amazon entering the prescription drug space.

Positioned as a highly vertically integrated, patient-focused platform, Ro’s future rests on scaling into chronic care, in-home diagnostics, and deeper partnerships — leveraging its tech-first model to broaden healthcare accessibility.

Ownership

Ro is a venture-backed startup. Investors include the founders, employees, and multiple venture capital firms. 

Prominent venture capital investors include General Catalyst, Altimeter Capital, 3L Capital, Tusk Venture Partners, TQ Ventures, Torch Capital, The Chernin Group, Baupost Group, Slow Ventures, Sinai Ventures, SignalFire, ShawSpring, Seven Seven Six, Scott Belsky, Initialized Capital Management, FirstMark Capital, and BoxGroup. 

Funding Rounds

WordPress Data Table Plugin

Valuation

Ro most recently secured a $7 billion valuation during its Series D funding round in February 2022.

IPO Potential

A specific Ro IPO date is not yet known. The company is likely not considering an IPO at this stage of growth. 

Axios’s Dan Primack asked Ro CEO Zach Reitano about a potential IPO in October 2024. Reitano said “never say never” and mostly dodged the question, stating: 

Why do companies go public? The primary reasons have been, historically, to raise capital or to create liquidity for employers and investors. I think that that … now can increasingly be done as a private company. I might give an unsatisfying answer, but the truth is that right now, we are exclusively focused on delivering the highest quality product for our patients.

With plenty of competitors and legacy healthcare companies losing ground, an acquisition may be more likely.

Monitor the Access IPOs S-1 feed for the latest IPO filings. An S-1 filing (confidentially or publicly) is the most telling sign that an IPO may be forthcoming. 

How to Invest in Ro Stock

Ro is a venture-backed startup, and therefore, it is more challenging for ordinary investors to own shares.

Investors can look to pre-IPO marketplaces and venture capital funds, or position themselves to participate in an eventual IPO. 

As a public company, it can raise significant funds for operations and offer the Mills family the opportunity to liquidate significant ownership to public investors.

Here are some potential options to own Ro stock before, during, and after the IPO.

1. Invest Pre-IPO

Ro stock may become available on pre-IPO secondary platforms before a potential IPO.

This occurs when employees or other early investors wish to liquidate a portion of their shares before the public offering, but the company does not provide an option.

Investors must be accredited to be eligible to buy pre-IPO shares directly or through a special purpose vehicle (SPV).

Monitor pre-IPO investing platforms, such as Hiive, Forge Global, Nasdaq Private Markets, and EquityZen for availability. 

Minimum investments on these platforms range from $5,000 to $100,000 or more. It’s free to sign up for data and deal alerts. 

Non-accredited investors can invest in pre-IPO companies via venture capital funds targeted at retail investors. Venture capital funds are a new asset class that emerged in 2022.

The Fundrise Innovation Fund is a viable option for U.S.-based investors. However, Ro is not a holding. 

Check out our list of the top pre-IPO investing platforms that may have shares available.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

2. Participate in the Ro IPO through a broker

When a company eventually goes public, ordinary investors can sometimes buy the stock during the IPO at the IPO price.

Often, only Wall Street’s top customers can invest in IPOs. But with a larger IPO like Ro, investors may have an opportunity to access the IPO through participating discount brokers. 

Some online brokers (listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.

• TradeStation
• Robinhood

TradeStation has a more established track record of accessing more than 400 IPOs and secondary offerings via its partnership with Click Markets. 

Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

3. Participate in the Ro Directed Share Program (Customers)

Another possibility (but not certainty) is a directed share program.

When companies file their S-1 SEC filing (to begin the IPO process), they sometimes include a directed share program for executives, affiliates, and others who helped the company grow.

Ro can attribute much of its success to its patients. As such, the company may offer IPO shares to them.

This has happened before.

Uber offered shares to drivers who completed a certain number of trips.

Reddit offered 8% of its IPO shares to active Reddit users. 

Airbnb offered IPO shares to hosts. 

The S-1 filing may give us clues in its initial release.

After the company releases the initial S-1 filing, and the IPO is about 10 days away, customers should monitor their emails for an investment opportunity. 

Bookmark this page for more information as the IPO approaches.

4. Buy the Stock after the IPO

Most investors will not acquire pre-IPO shares or receive an allocation during the IPO. 

Waiting for private companies to become publicly traded companies can have advantages. The IPO filing provides investors with access to financial data, and each subsequent quarter paints a more complete picture. 

IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.

Without IPO access, post-IPO investors may be tempted to acquire shares at inflated prices. 

Avoid chasing over-inflated share prices right after the IPO. Stock price declines after IPOs can be excellent entry points.

Be selective and patient. The most disruptive companies are likely to experience higher valuations a decade from now.

Frequently Asked Questions (FAQs)

Is Ro publicly traded?

No. Ro is not publicly traded. It is a private company. 

What is the Ro stock price?

A public Ro stock price does not exist.

Although pre-IPO fundraising data (raise amount and valuation) is available, the stock prices at which shares were traded are not available.

What is the Ro stock symbol?

There is no Ro stock symbol yet because the company is private.

The ticker symbol “RO” is available. 

Where is the Ro S-1 Filing?

The Ro S-1 filing is not available because the company has not filed for an IPO. There are no indications of a confidential filing as of mid-2025. 

You can monitor the most recent S-1 IPO filings on this website.

Ro News Archive

02/15/2022: Ro Raises $150 Million from Existing Investors
07/27/2020: Ro Raises $200 Million in Series C
04/15/2019: Ro reaches $500M valuation in Series B
09/18/2018: Ro raises $88 million to help you quit smoking

Conclusion

Ro’s evolution from niche erectile dysfunction treatment provider to a digital health leader is a sign of the growing demand from consumers for accessible, lower-cost, and tech-driven healthcare, especially regarding conditions with stigmas attached.

Its diversified offerings across men’s and women’s health, weight management, and telepharmacy position it well for long-term relevance, especially as chronic conditions like obesity become central to U.S. healthcare spending.

Ro leadership is not keen on a potential IPO, believing the benefits of staying private outweigh a public future. However, the CEO hasn’t ruled out an IPO. 

An acquisition is another possible outcome. 

Investors curious about a potential Ro IPO can monitor this website and other news sources for indications of progress toward a public offering. Steps would include hiring a CFO with IPO experience, talking to banks about a potential IPO, and filing a confidential IPO. 

Ro secondary marketplace transactions are thin, indicating the company may have tight maintenance of its cap table.

Customers may have the best shot of investing in Ro stock through an IPO directed share program. But we won’t know more until the S-1 documentation is filed and released to the public.