Robinhood Markets
 |
|
| Headquarters | Palo Alto, California |
|---|---|
| Key people | Baiju Bhatt (Co-Founder) Vladimir Tenev (Co-Founder) Nate Rodland (COO) |
| Industry | Finance and Insurance |
| Services | Brokerage firm |
| Website | www |
| Launched | April 18, 2013 in Palo Alto, California |
Robinhood Markets Inc., or simply Robinhood, is a U.S. based financial services company headquartered in Palo Alto, California. The company offers the Robinhood smartphone mobile app, which allows individuals to invest in publicly traded companies and exchange-traded funds listed on U.S. stock exchanges without paying a commission. The company makes money from interest earned on customers' cash balances and margin lending.
After an April 2017 fundraising, Robinhood had a $1.3 billion valuation.
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.
Using the product requires a smartphone.
To keep costs down, the company has no storefront offices and does not provide research reports, analytical tools, or options trading on its platform.
The company has been criticized for poor customer service and delays.
The app has approximately 2 million users.
The firm is a FINRA-approved broker-dealer, registered with the U.S. Securities and Exchange Commission and is a member of the Securities Investor Protection Corporation (SIPC).
As of August 9, 2017, the company began offering free stocks in exchange for referring new users.
The firm was founded by Vladimir Tenev and Baiju Bhatt who had previously built high-frequency trading platforms for financial institutions in New York City. Tenev and Bhatt realized that high-frequency traders and electronic trading firms pay effectively nothing to execute trades. This inspired Tenev and Bhatt to bring existing technology to the retail brokerage market with Robinhood, a commission free stock brokerage. As of March 2016, it had nearly one million customers.
...
Wikipedia