![]() ![]() Robinhood democratizes stock trading, making it lucrative to younger, less wealthy clients for whom potential gains on small investments would be wiped out by fees. Robinhood earns money through interest on cash balances kept in the app and lending services, such as the ability to trade on margin. Founded in 2013, Robinhood now has 60 employees, and has won both the Apple App Store and Google Play design awards. The startup is expanding in hopes of making good on the $66 million in funding its received from NEA, Index, Slow Ventures, and Andreessen Horowitz, as well as celebrities like Jared Leto and Snoop Dogg. It’s processed $6 billion in transactions, saving users $100 million in fees. It undercuts services like E*Trade and Scottrade that charge around $7 to $10 per trade to fund their marketing and physical branches. Robinhood’s mobile app charges no commission to buy and sell stocks, and now has over 1 million users. ![]()
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