Robinhood

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Robinhood
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Example user-interface of website [ Robinhood]
Type Private
Launch Date April, 18, 2013
Status Active
Product Line Content Sharing Service
Platform Website & App
Website Official Site


Robinhood is a financial services company launched on April 18, 2013 by founders Vladimir Tenev and Baiju Bhatt. Headquartered in Menlo Park, California they are known for their mobile app "Robinhood" where users are allowed to trade commission-free stocks and exchange-traded funds.

History

Vladimir Tenev and Baiju Bhatt founded Robinhood in April 2013. The company's name is a reference to the story of Robinhood, which is also referenced with their mission statement "to provide everyone with access to the financial markets, not just the wealthy". Robinhood is known for being the first trading app to offer commission-free trades and having a user-friendly website and mobile app.

In 2017, A number of venture capital firms including DST Global, Greenoaks Capital, and Thrive Capital funded $110 million to Robinhood bringing the company to a $1.3 billion valuation by the end of the year. The following year Robinhood was funded with another round of investment valued at $363 million. As of 2018, Robinhood has raised a total of $539 million from venture capital funds, ending the year with a $5.6 billion valuation.

In 2019, Robinhood was at the center of a media outburst where outlets reported on Robinhood's announcement about looking for an additional round of investment. In November 2019 Robinhood announced their expansion to the United Kingdom.


In 2020, Robinhood's trading had increased significantly. Robinhood users were said to have caused the market rise before the 2020 stock market crash but a study shows Robinhood users did not have much daily impact on the stocks. As of 2020, Robinhood had 13 million users of its platform.

In 2021, Robinhood halted the trading of the GameStop stock on its platform after a steep increase in trading activity of the stock on its trading platform. One of the founders, Vladimir Tenev, later stated in a 2021 interview that they had to stop trading of the stock to comply with certain financial regulations from their clearing house.


Features

User-Friendly Interface

Cash Account

Browse News

Dividend Reinvestment Plan

Instant Deposit

Options Trading

Robinhood Gold

Community

Robinhood's users have created several online communities on social media platforms. Facebook is home to several pages of communities for Robinhood users to communicate. Many users share trading ideas and post screenshots of their gains or losses.

Ethical Implications

Similar Apps

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References