Robinhood is focusing on new goods and markets as it prepares for the future.
During the company’s quarterly earnings call on Tuesday (Feb. 13), Vlad Tenev, CEO and co-founder of Robinhood, stated that the stock trading and investing app is focused on winning the active trader market, increasing wallet share by deepening relationships with existing customers, and expanding internationally.
“Reflecting on the past four years, we’ve tripled our customer base and grown revenues nearly seven times,” Tenev said in a statement. “When we look at all that’s in front of us, we’re excited by the opportunity to continue growing Robinhood significantly from here.”
To appeal to active traders, Robinhood continues to develop features tailored to their needs, with the goal of creating a “pro trader web experience,” according to a Tuesday earnings statement. The business also intends to introduce futures and index options.
Robinhood has been gaining trading market share for some time and is attracting net asset inflows from its biggest competitors, Tenev stated on the call.
“For winning the active trader market, we’re going to continue to invest in our user experience on mobile, where we’re currently No. 1 in market share,” Tenev stated in the course of the conference call. “In addition, we will be expanding our selection of tradable assets in particular, with index options and futures coming later this year.”
