Robinhood’s Investors Increasingly Introduce Financial Tools to Parents

Younger Investors Are Helping Their Parents Save Big

Billions.png

We believe the U.S. stock market is a powerful tool for wealth creation and one that everyone should participate in. Years ago, our founders, Baiju and Vlad, set out to build a better way to invest, so it’s humbling to see customers recommending Robinhood every week. This organic growth is what led us to become the fastest-growing brokerage ever with one million users, over $6 billion in transactions, and $100 million in commissions saved.

After studying 2016 sharing analytics among our one million users, the Robinhood Data Team surfaced an interesting behavioral shift: younger generations are actually more likely to introduce Robinhood to older generations than the other way around. Traditionally, it’s been the reverse: parents would teach their children about saving and investing and introduce financial tools to get the job done. Not anymore.

The Robinhood Data Team reports 16% of all Robinhood referrals stem from one family member sharing their referral link with another family member, whether it be a parent, sibling, or cousin. More interestingly, 26% of these family referrals stem from a customer sharing their referral link with one of their parents. On the flip side, only 3% of these family referrals were from parents referring their kids. We were able to deduce all of this by looking at customers’ last names and ages.

It makes sense, too. As technology paves the way for automation and lower costs, companies are finally doing away with archaic interfaces, account minimums, and exorbitant fees. Today, there are simply better and more cost-effective ways to invest and track your finances, so it’s no wonder customers of these products are spreading the word to their parents. There really is a better way to trade, after all. Time to text your Mom and Dad…

Tweet us -- Like us -- Join the team -- Get help

Two-Factor Authentication

Robinhood adds support for two-factor authentication

Today, we added support for two-factor authentication, an extra layer of security that many Robinhood customers have requested. Over the next few weeks, you should see a Card prompting you to enable two-factor for your account under Settings. It’s a simple, straightforward process and, while it’s not required, it is recommended. Here is more information about two-factor on Robinhood.

We’re also making our two-factor authentication solution available to the open source community for other products to implement. Open sourcing our solution was a project spearheaded by one of our engineering interns, Abhishek! Our Engineering team outlined the solution in a post here.

Tweet us -- Like us -- Join the team -- Get help

NEA's Scott Sandell Joins Robinhood's Board

We’re excited to announce the latest addition to Robinhood’s Board — NEA Managing General Partner and head of technology investing, Scott Sandell.

Scott is among the most frequently named investors to the Forbes Midas List, with 22 technology companies in his portfolio having successfully completed public offerings or mergers, and is one of the most distinguished venture capitalists in the world.

Scott replaces NEA General Partner Krishna “Kittu” Kolluri on Robinhood’s board, who became a Robinhood board member after NEA led our $50 million funding round in May 2015. Scott joins Robinhood founders Baiju Bhatt and Vlad Tenev, along with Index Ventures’ General Partner Jan Hammer on the board.

Scott’s dedication to his portfolio companies will no doubt prove valuable as we work to fulfill our mission to make the U.S. stock market accessible to everyone.

Tweet us -- Like us -- Join the team -- Get help

Robinhood on Mad Money with Jim Cramer

Last week, the one and only Jim Cramer chatted with Vlad and Baiju on his CNBC show, Mad Money, to discuss the inefficiencies on Wall Street and our mission to make the markets more accessible. 

You can watch the full interview below: 

Jim is one of the most influential voices in the investment community and has spent decades educating Americans on the values of investing and savings. Before starting Mad Money in 2005, he co-founded TheStreet in 1996.

Jim shares a similar goal to inspire a new generation of investors, so it was an honor to meet him and see his passion for our product.

Tweet us -- Like us -- Join the team -- Get help

Peek. Pop.

Robinhood adds iOS support for 3D Touch

Robinhood for iPhone now supports 3D Touch so you can access your portfolio faster than ever.
 
If you own an iPhone 6s or iPhone 6s Plus, press firmly on the Robinhood app icon to view Quick Actions, which are helpful shortcuts to visit your History, Account, Portfolio, and Search.
 
Within the app, Robinhood supports Peek and Pop gestures, so you can preview content from your Cards with a light press and engage further with a deeper press. For instance, you can lightly press a news Card to preview the article, and press more firmly to read it.

Search on Robinhood is also now more contextual and actionable. When you search for a new stock or ETF, you can lightly press on the security to preview its price history and market data, then press deeper to add it to your watchlist.
 
This is all part of our ongoing effort to make Robinhood the best investment experience available. Enjoy!
 
-The Robinhood Team

Tweet us -- Like us -- Join the team -- Get help

Robinhood Wins Google Play Award

Ever since launching Robinhood for Android in August 2015, we’ve seen nothing but incredible support from the Android community. It helped us become one of Google Play’s Best Apps of 2015, and last night, Google recognized us with the 2016 Google Play Award for Best Use of Material Design. We were honored at Google I/O as part of the first-ever Google Play Awards.

The Best Use of Material Design category recognizes first-class implementation of material design concepts that deliver an immersive and innovative user experience. We were also a finalist in the Standout Startup category that recognizes apps from new developers that offer a unique experience while achieving strong install growth. 

Thank you for making Robinhood for Android an award-winning experience!

- The Robinhood Team

Tweet us -- Like us -- Join the team -- Get help