(adsbygoogle = window.adsbygoogle || []).push({});

Robinhood Stock Trading App Now Valued at $1.3 billion

Robinhood, the no fee stock trading app for Android and iPhone, recently completed a round of fundraising that will enable it to compete with brokerage firms that charge up to $10 per trade. According to TechCrunch.com, investment company DST Global has led the fundraising, and the current valuation of Robinhood is now $1.3 billion dollars.

Robinhood began offering its services in 2013, claiming to be a vehicle for the “everyman” to begin investing. The application is easy to use and offers users the ability to track and trade stocks with no added costs. Unlike traditional brokerages, Robinhood has no brick and mortar locations, which saves them money.

screenshotRobinhood

 

These savings are then passed on to their traders. Last year, Robinhood launched a premium option, called Robinhood Gold, which allows users to make deposits and trades instantly instead of needing to wait three days. This $10 per month option is the primary source of revenue for the Robinhood team, and its success allowed the team to reach a $1.3 billion valuation after a very successful round of fundraising.

Image credit: Investopedia

Lance McHenry on Twitter
Lance McHenry
Staff News Writer: Lance McHenry is a writer, tea snob, entrepreneur, lover of #tech and #startups. His idea of triathlon is developing an idea, creating a prototype, and validating. He has been involved in the growth of several startups and now shares his ideas on business and tech. Follow him on Twitter @Lanceexpress

Like this article? Get updates by email and get our eBook for FREE

Subscribe and Get Updates!

GET PREMIUM CONTENT AND UPDATES FOR FREE!

Invalid email address
Give it a try. You can unsubscribe at any time.

Article Tags:
· ·
Article Categories:
Find Your Way · US & World
85

Staff News Writer: Lance McHenry is a writer, tea snob, entrepreneur, lover of #tech and #startups. His idea of triathlon is developing an idea, creating a prototype, and validating. He has been involved in the growth of several startups and now shares his ideas on business and tech. Follow him on Twitter @Lanceexpress

Recent Posts

Comments are closed.