Robinhood will be releasing their fresh web app early next year - Dispatch Weekly

Business

November 8, 2017 - Reading time: 3 minutes

Robinhood released their free stock broking app for iOS and Android in late 2014, and now they are pursuing further success with the release of a new web app, being made available to all American citizens in early 2018. The web app will build on their current mobile interface, adding features such as Collections, an effort to categorise stocks into sectors like ‘entertainment’ and ‘gas and oil’; Price Paid, an average and aggregate price each Robinhood user paid for a particular stock; Analyst Ratings, view various ratings from both Wall Street analysts as well as commentary from Morningstar analysts.

The company has been around in their current incarnation since 2013, when founders Vladimir Tenev and Baiju Bhatt realised that trades made via electronic trading firms pay little to no transaction fees that other traders have to incur. This inspired the duo to release their Robinhood app, capitalizing on the lack of free trade brokerage in the industry. Despite the company’s age, they have quite a storied history to detail. Since 2013 their user base has increased from nothing to over two million users and with the release of more features and this web app, the figure will likely keep growing.

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This new web version of the app has been in the pipeline for some two years now. The Palo Alto based firm has been on the road in this time period, chatting with investors all across the continental United States trying to create a comprehensive list of what people actually want in a web-based Robinhood. The investors were of a diverse nature, with differing investment strategies, financial goals, and account balances. They also made sure to speak to people who were looking to invest but had no experience or prior knowledge, and what they sought for in their first foray into the world of investment.

On the first of November, Robinhood for Web was unveiled to the public, boasting a brand-new web platform, allowing users to discover and research the granular data behind each and every stock, making their users better informed, overall investors. On this date, early adopters were being invited to try and test out the new interface and make comments, with the final launch for everyone coming early next year.

Overall, the company has raised $176 million in four rounds of investment. The firm was valued in at $1.3 billion in April 2017. Investments and valuations are almost certainly going to increase over the coming years, especially if they are prepared to release more features for the already innovative trading service. It will be amazing to see what the future has in store for such an innovative and youthful company.

 

 

DW Staff

David Lintott is the Editor-in-Chief, leading our team of talented freelance journalists. He specializes in covering culture, sport, and society. Originally from the decaying seaside town of Eastbourne, he attributes his insightful world-weariness to his roots in this unique setting.

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