Robinhood was founded in April 2013 by Vladimir Tenev and Baiju Bhatt, who had previously built high-frequency trading platforms for financial institutions in New York City.
Robinhood Markets is an American financial services company that allows users to purchase stocks, crypto currency, and exchange-traded funds easily and without commissions by using a mobile phone app.
The company earns its revenue from three main sources: interest earned on customers’ cash balances, selling order information to high-frequency traders (a practice for which the SEC opened an investigation into the company in September 2020) and margin lending.
In March 2022, Robinhood launched the Robinhood Cash Card, a debit card that allows users to automatically invest in assets like stocks and crypto when spending money.
Robinhood Markets went public on the NASDAQ in July 2021 under the ticker symbol HOOD.
FTX, the cryptocurrency platform, has approximately $450 million invested in Robinhood. It is unknown what will happen to the company’s shares since it has filed for bankruptcy and is being investigated for fraud.
Robinhood maintains a corporate office in Menlo Park, California.
Robinhood was founded in April 2013 by Vladimir Tenev and Baiju Bhatt, who had previously built high-frequency trading platforms for financial institutions in New York City.
Robinhood Markets is an American financial services company that allows users to purchase stocks, crypto currency, and exchange-traded funds easily and without commissions by using a mobile phone app.
The company earns its revenue from three main sources: interest earned on customers’ cash balances, selling order information to high-frequency traders (a practice for which the SEC opened an investigation into the company in September 2020) and margin lending.
History
In March 2022, Robinhood launched the Robinhood Cash Card, a debit card that allows users to automatically invest in assets like stocks and crypto when spending money.
Robinhood Markets went public on the NASDAQ in July 2021 under the ticker symbol HOOD.
FTX, the cryptocurrency platform, has approximately $450 million invested in Robinhood. It is unknown what will happen to the company’s shares since it has filed for bankruptcy and is being investigated for fraud.
Robinhood maintains a corporate office in Menlo Park, California.