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
OpenAI’s ChatGPT ads get its first conversion API partner in LiveRamp
The partnership enables advertisers to connect chatbot ads to real-world purchases for the first time via conversion data.
LinkedIn wants to own B2B creator discovery with new creator marketplace
LinkedIn is aiming to make B2B creator discovery more scalable for brands looking to tap into its growing creator ecosystem.
Inside the messy middle of January Digital agency’s AI adoption
Brands and their agency partners have started using agents to plan, execute, and optimize ad purchases.