for the Digiday Programmatic Marketing Summit, May 6-8 in Palm Springs.
Robinhood is bringing investing under the social finance umbrella.
The company behind the popular trading app launched a web platform Wednesday to help to deliver the second part of its mission to make stock trading accessible to everyday people: help them make more informed decisions. It’s adding tools, features and information on other users’ activity that makes the experience feel more like a social network.
Robinhood, which launched in 2013, says it has crossed 3 million users as of Wednesday and more than $100 billion in transaction volume with about 100 employees, according to co-CEO Baiju Bhatt. By comparison, the 42-year-old TD Ameritrade has 11 million funded accounts and more than 10,000 employees as of this September; E-Trade, 35 years old, reported 3.5 million accounts by the end of last year with some 3,600 employees. Robinhood users have saved more than $1 billion in commission fees (typically $7 per transaction) using the fee-free app, Bhatt said.
More in Marketing
YouTube is turning audio into an ad product — SiriusXM is selling it
The streaming giant has exclusively partnered with SiriusXM Media to sell YouTube’s “audio-first” inventory in the U.S.
Retailers offer fuel perks as consumers look for relief from $4 gas amid U.S.-Iran war
As gas prices climb, companies are rolling out limited-time fuel perks to attract cost-conscious shoppers, boost foot traffic and provide some relief at the pump.
NHL looks to TikTok to capitalize on Heated Rivalry and Olympics as it grows beyond U.S. and Canada
The league is leveraging a successful TikTok operation to expand presence in Europe, recruit casual fans and pump up the value of its media rights.