Robinhood

Commission-free trading and financial services platform with 24M+ funded accounts, offering crypto trading, wallets, and a growing payments footprint. Public since 2021. Acquired Bitstamp in 2024 to expand crypto infrastructure. Launched self-custody wallet.

Robinhood's 24M+ accounts and expanding crypto wallet infrastructure make it a mass-market bridge between brokerage, payments, and programmable money.

robinhood.com Consumer Wallets

United Statespublic · HOOD

At a glance

Total raised

$7.3B

last round ipo

Headcount

1k-5k

approximate · public range

Headquarters

Menlo Park

United States

Founded

2013

13 years active

Status

Public

Ticker · HOOD

Latest valuation

$32B

IPO · 2021

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Funding history

Total raised

$7.3B

Rounds tracked

Latest stage

IPO

Latest valuation

$32B

Date	Stage	Amount	Valuation	Lead investors
Jul 29, 2021	IPO	$2.1B	$32B	—
Feb 1, 2021	Convertible	$3.4B	—	Ribbit Capital
Sep 22, 2020	Series G	$460M	$11.7B	Andreessen Horowitz
Aug 17, 2020	Series G	$200M	$11.2B	D1 Capital Partners
May 4, 2020	Series F	$280M	$8.3B	Sequoia Capital
Jul 22, 2019	Series E	$323M	$7.6B	DST Global
May 10, 2018	Series D	$363M	$5.6B	DST Global
Apr 26, 2017	Series C	$110M	$1.3B	DST Global
May 7, 2015	Series B	$50M	—	New Enterprise Associates (NEA)
Sep 23, 2014	Series A	$13M	—	Index Ventures
Dec 18, 2013	Seed	$3M	—	Index Ventures

Stock performance

$73.63999938964844

2026-05-22 · HOOD

Latest earnings

Q1 2026Filed Apr 28, 2026

Revenue$1.1B

YoY+15%

GAAP EPS$0.38

Robinhood reported Q1 2026 revenue of $1.07 billion, up 15% year-over-year, driven by net interest revenue growth of 24% to $359 million and other revenue (primarily Robinhood Gold subscriptions) up 57% to $85 million, partially offset by a 47% decline in cryptocurrency revenue. Net income increased 3% to $346 million, while diluted EPS rose 3% to $0.38. The company added 1.7 million funded customers (up 6% YoY to 27.4 million) and grew Robinhood Gold subscribers 36% to 4.3 million. Total Platform Assets expanded 39% to $307 billion, driven by $17.7 billion in net deposits (22% annualized growth rate). Record trading volumes were posted in prediction markets, futures, and index options. Operating expenses climbed 18% to $656 million, reflecting marketing and acquisition investments. The company updated its 2026 Adjusted Operating Expenses and SBC guidance to $2.7–2.825 billion, up $100 million from prior guidance to support Trump Account infrastructure on a cost-plus basis.

Guidance

2026 Adjusted Operating Expenses and SBC $2.7–2.825 billion

Read the 8-K

Founder backgrounds

Baiju Bhatt

Co-Founder

A Stanford graduate with degrees in mathematics and physics, Bhatt co-founded the high-frequency trading infrastructure firm Celeris FT alongside Vladimir Tenev before launching Robinhood. That experience inside institutional trading gave him a firsthand view of the structural advantages large firms held over retail investors — a gap Robinhood was built to close. Bhatt led product design and user experience at Robinhood, shaping the clean, frictionless interface that became the company's hallmark. He stepped down from his day-to-day role at the company in late 2023, after more than a decade helping scale the platform to tens of millions of users.

Vlad Tenev

Chief Executive Officer & Co-Founder

Born in Bulgaria and raised in the Washington, D.C. area, Tenev earned a BS and an MS in Mathematics from Stanford University, where he began a PhD before leaving to pursue entrepreneurship. Prior to founding Robinhood, he co-founded Celeris, a high-frequency trading firm that built trading infrastructure for hedge funds—an experience that revealed how little the industry paid for market access relative to what retail investors were charged. That asymmetry directly inspired the commission-free model at Robinhood, which he co-founded with Baiju Bhatt in 2013. Tenev has cultivated a public posture as a democratizer of finance, arguing that lowering cost barriers expands market participation, though this stance was severely tested during the 2021 meme-stock trading halt. He has since steered the company into a broader financial services role, adding retirement accounts, cash management, and a credit card.

AI bull / bear

Bull case

Robinhood's 24-million-plus funded accounts represent a distribution engine that no other crypto-native platform can match. The 2024 Bitstamp acquisition gives Robinhood institutional-grade exchange infrastructure and global licensing, transforming it from a retail brokerage that dabbles in crypto into a vertically integrated player that can custody, settle, and route its own order flow. When combined with the self-custody wallet, users can now move assets between fiat, brokerage, and on-chain environments without leaving Robinhood's ecosystem — a seamless experience that wallets like MetaMask cannot replicate. The strategy positions Robinhood as the default on-ramp for the next wave of retail crypto adoption. Institutional conviction is material. Cathie Wood's ARK and Cantor Fitzgerald have accumulated positions even through a crypto volume lull, signaling a bet that Robinhood's transaction revenue is cyclically depressed, not structurally broken. As rate cuts make cash-sweep economics less attractive, crypto and options trading should re-accelerate, and Robinhood captures both. The company's regulatory-first posture — it never operated an unregistered exchange — also becomes an asset if the SEC's posture normalizes.

Bear case

Robinhood's revenue engine is structurally dependent on volatile, sentiment-driven trading activity. Crypto transaction revenue collapsed multiple times since the IPO, and each downturn resets the growth narrative. The Bitstamp acquisition and self-custody wallet are late-to-market moves in categories where Coinbase, Binance, MetaMask, and Phantom have deep network effects and years of user trust. Robinhood's wallet has no meaningful DeFi integrations, no dapp browser, and no developer ecosystem — it is a custody wrapper, not a platform. The bull case that 24 million accounts will convert into crypto wallet users ignores the behavioral chasm between passive ETF buyers and on-chain participants. Most Robinhood users came for zero-commission stock trading, not self-sovereign money. The company's regulatory history — the $65 million SEC settlement in 2020 over payment for order flow disclosures and the meme-stock trading restrictions in 2021 — has left a durable trust deficit with the retail cohort most likely to adopt crypto. Meanwhile, the original $32 billion IPO valuation remains a punishing benchmark that the stock has never sustainably reclaimed.

Generated by deepseek-v4-pro · May 2, 2026Refreshes quarterly · see disclosures

In the news

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Leadership

Vlad Tenev

Chief Executive Officer & Co-Founder

in 𝕏

Baiju Bhatt

Co-Founder

in 𝕏

Jason Warnick

Chief Financial Officer

—

Mayank Agarwal

Chief Technology Officer

—

Products

Robinhood Trading App
Robinhood's flagship commission-free trading platform lets retail investors buy and sell stocks, ETFs, options, and cryptocurrencies with no commissions. It offers fractional shares, IPO access, and a clean mobile-first interface designed to make investing accessible to first-time investors. Differentiated by its zero-commission model, simple UI, and integration with Robinhood's broader financial ecosystem.
Robinhood Crypto
A cryptocurrency trading service built into the Robinhood app that lets users buy, sell, and hold over a dozen cryptocurrencies including Bitcoin, Ethereum, and Solana. It features competitive spreads, no wallet fees, and integration with Robinhood's self-custody wallet. Differentiated by its tight integration with traditional stock trading on a single platform.
Robinhood Wallet
A self-custody crypto wallet app that allows users to store, send, receive, and swap cryptocurrencies across multiple blockchains including Ethereum, Polygon, and Solana. It supports Web3 dApps and NFT viewing. Differentiated by being self-custodial (users control their private keys) while integrated with the Robinhood ecosystem for easy on-ramp funding.
Robinhood Gold
A premium subscription tier offering enhanced trading features including larger instant deposits, professional research reports from Morningstar, Level II market data, and margin trading with competitive interest rates. Differentiated as an all-in-one premium bundle that unlocks deeper tools for active investors within the Robinhood app.
Robinhood Cash Card
A spending account and debit card that combines checking account features with cashback rewards and early direct deposit access. Users can spend, save, and invest from a single account. Differentiated by its integration with the Robinhood investing app, enabling seamless movement between spending cash and investment capital.

Most recent patents

2 patents on file, but none with both an extractable figure and an abstract on Google Patents yet.

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Robinhood

At a glance

Subscribe to see the full profile

Funding history

Stock performance

Latest earnings

Founder backgrounds

Baiju Bhatt

Vlad Tenev

AI bull / bear

In the news

Robinhood Crypto COO Tanya Denisova is leaving company amid revenue slowdown

Anchorage is stepping back from Robinhood and Kraken-backed stablecoin group

Robinhood’s venture fund IPO attracted 150,000+ retail investors, CEO says

Overseas demand for U.S. equities is growing, says Robinhood's Johan Kerbrart

From Cathie Wood to Cantor Fitzgerald, the big money is betting that Robinhood’s crypto slump is just a temporary speed bump

Watch

Leadership

Products

Robinhood Trading App

Robinhood Crypto

Robinhood Wallet

Robinhood Gold

Robinhood Cash Card

Most recent patents

Open roles

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