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Articles tagged "Robinhood"


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Vlad Tenev's storybook company is having to make more grownup choices.

Robinhood sheds 'layers' by laying off almost 9% of 3,800 staff as it seeks to also minimize burn rate of the $6 billion sitting on its balance sheet

CEO Vlad Tenev is retrenching at the Menlo Park, Calif., firm, hoping to recapture the 'focus' the company had as a 'lean' unit of 700 people.

April 27, 2022 at 1:38 AM

Aparna Chennapragada: [Robinhood round-up] incentivizes folks to do the good thing [investing] more.

Robinhood shares spike 25% after CEO Vlad Tenev finally goes back on the attack against Acorns, Fidelity, and Schwabitrade by adding their tricks and features to its quiver

Semi-commoditized by giants and upstarts alike, the Menlo Park, Calif. firm is extending trading hours and doing its own Acorns-style round-up debit card to show it's in the fight.

March 29, 2022 at 7:19 PM

Lisa Salvi: Firms can ensure they have a compelling compensation strategy.

Oisin's Bits: RIAs are slow to raise wages to reflect revenue and inflation • Robertson Stephens doubles AUM, making three a charm • SEC finally explains Bitcoin ETF application failures • Tenev, Bhatt get billion dollar haircuts in Robinhood stock slump

Schwab report shows RIAs hire at bargain rates but maybe not for long • 'Robertson Stephens' third go-round, second as RIA, gains steam • SEC reveals spot BTC concern--fraud • Robinhood founders lose $3.4 billion, $3.9 billion in stock slump

February 4, 2022 at 8:21 PM

Stephanie Guild: We’re proud to help people build wealth for the long term.

As Charles Schwab Corp. shares soar and Robinhood's crater, the mobile-first brokerage makes seminal move past its ‘casino' model and sells 'fiduciary' portfolios

Just days after the Menlo Park, Calif., firm nabbed ex-TDA star Steve Quirk to call shots, Robinhood announced it'll sell automated portfolio management and the fantasy of beating market.

January 15, 2022 at 3:11 AM

Steve Quirk oozes with potential to climb higher Robinhood rungs that transcend "trading," say multiple sources

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 at 10:33 PM

Vlad Tenev: Investing isn’t a game, but must it be grim and difficult to understand?

Robinhood stock suffers sixth straight record low as its reverse 'fiduciary' conundrum goes unsolved, while CEO takes shots at 'gadflies' and eggheads

The Menlo Park, Calif., discount broker needs to put client interests first while making them feel like it's flouting authority

November 24, 2021 at 2:30 AM

Vlad Tenev was called to testify before Congress on Robinhood's revenue stream.

Robinhood's retort to SEC's threat to outlaw kickbacks from order flow is to in-source the trading operation and take more of the bid-ask spread

Robinhood points out it has a 'history of doing difficult tasks' like when it brought clearing in-house to 'market make as a solution to monetize the stream.'

September 16, 2021 at 2:00 AM

Alex Lebow (to right of fellow co-founder, Julio Fredes) : As part of the Robinhood family, we’ll be able to further our goal of creating a new ecosystem of ownership and engagement to benefit all investors and companies.

Robinhood tilts business model toward 'social media capital' with purchase of Say Technologies, which has a Reddit-like chat function and proxy software to execute rebellions

The Menlo Park, Calif.-based broker phenom's $140-million purchase of the NYC-based startup gets young investors to collaborate in chat, show up with questions in Fortune 5000 c-suites and use proxies -- and even class-action suits -- like pitchforks

August 13, 2021 at 1:41 AM

In just eight years Robinhood co-founders Vlad Tenev and Baiju Bhatt have steered the start-up to a $30 billion IPO.

Robinhood got its $32-billion IPO after it parlayed a Wall Street rebel image into a way for the Wall Street elite to cash in

The Menlo Park, Calif.-based phenom's founders become billionaires but Goldman Sachs and J.P. Morgan get their cut of the IPO, and the bulk of the trade spreads go to the Street's giant trading houses like Citadel and others

July 29, 2021 at 6:26 PM

Jessica Hopper: All FINRA member firms, regardless of their size or business model, must comply with the rules. [It] is not optional and cannot be sacrificed for the sake of innovation or a willingness .to ‘break things’ and fix them later

Checking pre-IPO boxes, Robinhood makes quick work of FINRA with $70-million settlement but minefield of less sympathetic investigators and litigants lies ahead

The SRO huffed that its action sounds a loud warning to future scofflaws but Brian Hamburger asks what $70 million means to a firm set to sell shares at a $40 billion valuation

July 10, 2021 at 3:03 AM

Step CEO CJ MacDonald posted this photo on Twitter with 'Tyler' who banks on his Step mobile app -- one of more than 500,000 accounts.

Fidelity claims the sub-Robinhood segment for itself (among majors) by offering 13- to 17-year-old investors a parent-lite, zero-fee trading app to go with a neobank

The Boston giant -- after the success of Step and others -- is going after this largely virgin market with a hard-knocks philosophy of teaching and a seamless transition to a regular brokerage account when the teen turns 18

May 25, 2021 at 1:25 AM

Abby Johnson blared no trumpets about her firm hitting $10 trillion.

Fidelity Investments flies past staggering $10T milestone, but Schwab, finally fully loaded with Q1 results from TDA merger, steals some of the Boston giant's thunder

The Boston and Westlake, Tex., companies are both on fire -- even showing surprising strength in the 'Robinhood' sector -- but Schwab's rollup of TD Ameritrade and USAA radically reduced a yawning gap

May 14, 2021 at 11:25 PM

Robinhood CEO Vladimir Tenev was called onto the carpet by Congress at a hearing into the GameStop frenzy.

Robinhood files for (give or take) $40-billion IPO before its 'zero' niche, its IPO window and its hipster appeal lose their buzz -- namely by March 31

The Menlo Park, Calif. discount broker's investor accounts average just $5,000, but it gets downloads of its app at unmatched levels in retail finance

March 24, 2021 at 2:22 AM

Baiju Bhatt (left) and Vladimir Tenev (right) founded Robinhood in 2013. Now the firm's DIY model is challenged by a suit alleging its duty of care is not just skin deep.

Robinhood allegedly implied a fiduciary duty to novice investors in the marketing of its 'game-like' trading app, even though it's a FINRA-regulated broker-dealer, new class action charges

Three Florida firms sue claiming (IPO bound, Bloomberg reports) Robinhood allegedly failed to direct self-directed investors -- a claim that is both legally shaky, and potentially serious, experts say.

November 17, 2020 at 4:54 AM

Jim Dickson: You will see Merrill shrink [its] training program ... and follow Fidelity's lead.

Fidelity, Schwab, Robinhood and even (days numbered) TD Ameritrade are hiring thousands of staff -- even as Merrill Lynch hits a snag-- what's that say about free trading?

Schwabitradehood's growing pains aren't just in website glitches but also to keep hold times to a mimimum in the phone service queue

September 1, 2020 at 1:37 AM

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