Robinhood Revenue and Usage Statistics (2020)

TweetShareShareBefore Robinhood, anyone who wanted to invest in stocks, ETFs or options would be charged between $5 to $10 a trade. They also needed to invest a minimum of $500 to open an account. Vladimir Tenev and Baiju Bhatt (co-founders) had previous experience building these systems and saw the extraneous costs as little more than gatekeeping younger and poorer people out of investing. “We are not setting any account minimums, which we think unlocks a market of investors who couldn’t do this before,” said Bhatt to CNBC at launch. “We see Robinhood as unlocking the microinvestor market.” Robinhood was popular even before launch. In 2014, 340,000 people had signed up to the app’s waitlist, by March 2015 (a month before it launched), that figure had … Continue reading Robinhood Revenue and Usage Statistics (2020)