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 online brokerage app crumbled on March 2 when the Dow Jones gained its most single-day points, leaving investors frustrated unable to take advantage of the market recovery.
Among the 10 biggest fintech companies in the U.S. in 2020, there are three firms that focus on crypto-related activity. They are Ripple, Coinbase and Robinhood.
At Coinspeaker we use cookies in order to improve site performance, offer you a better browsing experience and enable you to easily share content.AcceptPrivacy policy
