Robinhood Markets Inc., or simply Robinhood, is a U.S.-based financial services company headquartered in Menlo Park, California. The company offers the Robinhood smartphone mobile app, which allows individuals to invest in publicly tradedcompanies 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, and by selling order flow to high frequency trading firms.
After an April 2017 fundraising, Robinhood had a $1.3 billion valuation. The Wall Street Journal reported in 2018 that the company had closed another round of financing that valued the company at $5.6 billion.
Robinhood CEO was met by most of the fury owing to the fact that the app denied retail investors a chance to trade securities amid heightened volatility.
At present, the Robinhood app supports seven crypto assets including Bitcoin, Dogecoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash and Bitcoin SV.
