Want to get smart quick on Robinhood?
Earlier today, the company filed to go public.
Its filing showed that Robinhood has nearly 18M active users, as of March 31, 2021 (see This Week in Data, below). That’s a 106% increase since it reported 8.6M users in Q1’20, and a 670% increase since counting 2.3M in 2017.
As we showed in our analysis of 18 fast-growing financial services apps, Robinhood’s superpower has always been user acquisition, more specifically the use of tactics like waitlists and feature launches like crypto trading to fuel viral growth.
This year, Robinhood drew a lot of media attention (not always flattering), and regulatory scrutiny became a factor as well. But it has grown rapidly in customer asset terms nonetheless, with assets under custody growing from $19.2B in Q1’20 to $80.9B as of the end of Q1’21.
Other companies are chattering about how to keep up. More recently Robinhood has captured the attention of execs in financial services, who have been talking about the company as both a disruptor/competitor and as a client (like Twilio).
As the company prepares for its public debut, dig into our analysis of the business model on how Robinhood makes money here.