Robinhood Markets or simply Robinhood, is a stock brokerage that allows customers to buy and sell U.S. listed stocks and ETFs with zero commission.
Robinhood's platform enables its customers to buy and sell U.S. listed stocks and ETFs with zero commission. The trading platform also aims to make people comfortable storing money and trading stocks using its application.
Robinhood was Founded in 2013 by Vladimir Tenev and Baiju Bhatt who had previously built high-frequency trading platforms for financial institutions in New York City. The company is headquartered in Menlo Park, California.
Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA) (www.finra.org) and the Securities Investor Protection Corporation (SIPC) (www.sipc.org), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
Robinhood operates a mobile app that allows customers to buy and sell stocks on U.S. exchanges commission-free. The app is available for iPhone, Apple Watch, and Android.
Robinhood launched out of stealth on the crowdsourced technology news website Hacker News, leading to articles about the company in TechCrunch, PandoDaily, VentureBeat, TheStreet and others. Initially the firm had a waiting list, and in under 30 days there were 100,000 signups. self-published source? In mid-to-late February 2014, co-founders Baiju Bhatt and Vladimir Tenev were on CNBC and Bloomberg TV.
Robinhood is backed by over 35 investors including some of the prominent venture firm such as DST Global, Sequoia Capital, Kleiner Perkins, Index Ventures, and Thrive Capital among others. The company raised $323M in it's latest funding of a "Series E" round on Jul 22, 2019. This brings Robinhood's total funding to $862 to-date.
Robinhood was valued at a massive $7.6B during it's latest fundraising on Jul 22, 2019. The company was previously valued at $5.6B on Mar 15, 2018, when the company secured it's "Series D" round of a $363M in funding. The company has also acquired MarketSnacks on Mar 25, 2019.