What’s new in Robinhood’s App & Business Model Q3’23
In this series we’re looking at anything new in the Apps, GenAI innovations & Business Models of the best Digital Technology Companies.
Since Apps are really the frontend to a business model, we always have to look at both: the frontend (the App) and the backend (the business model & why certain innovations & updates have actually occurred).
Here’s what happened lately at Robinhood.
1. Robinhood Gold (subscription)
The first recent innovation is actually their subscription offering called “Gold”. The main perks are higher interest earnings on uninvested deposits of ~5% per year. There’s also access to investment research from Morningstar and richer data from the NASDAQ. It comes at $5 per month.
2. Wallet + Connect
For Crypto investors, Robinhood introduced the digital Wallet that holds many of the major Cryptos and Connect that eases certain types of Crypto transactions.
3. Robinhood Credit
They bought the Credit Card start-up X1. X1 was very new and very popular. For starters, it underwrites customers based on income and not credit score. But it’s also got a very popular App. It has an elaborate points system for every single purchase and no late fees.
Robinhood Credit Card will go live from early 2024 which we think will include the card features into the Robinhood App. It also sounds like there will be additional perks for Gold members.
4. Stock Screener
Now it’s available to all users and allows setting up screeners that can combine up to 20 different filters for those who want to buy and sell based on their own criteria.
5. 24 hour markets
They are rolling out a 24 hour market trading (5-day per week). This includes popular stocks & ETFs. The benefit is for hardcore traders the ability to react to breaking news outside of the usual trading hours. The risk is that volumes are low and volatility high.
6. Sherwood Media (Snacks Newsletter)
Their Snacks newsletter has been around for a while. But it’s been so popular that they have created a subsidiary. The goal is to generate its own revenue streams and the first way to do so is via advertising. But certainly more ways are conceivable
As we can see these are various combinations of App & Business Model updates.
Learn more
As always, there is more to it than the eye can see. You can check out our videos on What’s new in Robinhood’s Business Model …
Learn more about the whole biz model (including finance & economics) watching the entire video or jump to the App & business model update sections if you are more interested in the App updates and what’s behind it.
I found this very exciting and hope so did you…
