The trading app, Robin Hood, is now valued at more 7 billion in just 6 years since it opened its door after a new round on investing.
The figure was reached following a fresh round of investment saw them generated a further $200 million, at least. With more funds possible and thus, the value of the company could potentially increase even more. The app’s success is mostly owed to their lack of commission combined with a slick and easy to use interface, which has lured in the app-happy millennial market who have since left more traditional methods of trading behind.
The company were previously focused on stock trading, but for well-over a year now they opened their platform to cryptocurrencies, which has further spurred on their success by also making the app appealing to millennials. Something that their co-founder and CEO, Baiju Bhat, has noted previously, stating that “Crypto has certainly added to our growth. In the next couple of years, I think you’ll see Robinhood looking like a full-service consumer finance company.”
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