Thursday, May 7, 2015

Robinhood Snags $50 For Commission Free Trading For Millenials

Palo Alto-based Robinhood, which offers up commission free stock trading and is looking to attract "a new generation of investors", said today that it has raised $50M in a funding round. The funding was led by New Enterprise Associates, and also includedIndex Ventures, Ribbit Capital, Social Leverage and Vaizra Investments. NEA's Kittu Kolluri joins the company's board. The company says it has now raised $66M in total. Robinhood was founded by Vlad Tenev and Baiju Bhatt. The company's service works on the iPhone and Android. The company's other investors also include Jared Leto, Snoop Dogg, and Nas.