The app had more than 1 million people on the waitlist before the app was launched.
Since the launch of the app in 2013, the current valuation of Robinhood has reached 11.2 billion USD.
Almost 15% of the users in the USA agreed to use a trading app while 20% plan on using one soon.
The app’s user base reached 7, 00, 000 in 2015, 3 million in 2018, and a whopping 10 million users by 2020.
The waitlist of this app was 2/3rd filled with aspiring investors who wanted to use Robinhood just because their friends and colleagues had recommended them.
Robinhood is a mobile trading application that allows one to carry out commission-free trades of equities and exchange funds. It offers real-time data at a significant speed.
It also suggests insights into the “hot investment” opportunities in real-time.
It reminds one of their upcoming important events like dividends.
Unlike other brokerage apps, Robinhood allows their free as well as paid users to trade without waiting for “funds” to settle.
First, you sign up providing the required information. You will see the home screen with a search option. Here you can search for your desired stock.
When you click on your preferred stock the app offers all the information related to that particular stock.
The foremost information is in the form of a graph that offers you the price fluctuation for that stack over 1 day, 1 week, 1 month, 3 months, 1 year, and up to 5 years. One can place their finger at any place in the graph to know the price of the stock at that particular time.
This is followed by the statistics of the stock you’re researching. It offers information like Dividend Yield, P/E Ratio, and much more.
Then you will see a news section that features the current and past news related to the stock company that you’ve searched.
Following this would be the ratings and feedback given to that stock by experienced analysts.
Robinhood also offers the numbers earned by the stock owners per day and every quarter. The ‘frequently bought stock’ options follow after.
In the end, you’d see the information related to the company.
The app also allows you to add stocks to your watchlist so that you can keep a tab on them.
The app has a separate account section that offers users their past account summary like their purchasing power, monthly account statements, withdrawable cash, stock list, etc.
The company is backed by strong investors hence, it can afford to keep their app free.
Robinhood earns by offering its premium features through ‘Robinhood Gold’.
This upgrade is for experienced stockbrokers willing to take greater risks. The premium version allows a user with an increase in the buying power and extended training hours. But one must have at least 2000 USD in their account to access this upgrade.
It also rebates from trading venues and market places.
Counterparties that generate stock loan incomes.
Cash generated income.
Fees from program banks and Interchanging fees from cash managing debit cards.
Robinhood is a member of the “Securities Investor Protection Corporation (SIPC)” and “Financial Industry Regulatory Authority” (FINRA) “, this establishes a level of trust between the customers and the company.
This builds trust with customers. The app is secure and all the sensitive data you feed is encrypted.
It aims to democratize finance for all.
Their commission-free trade benefit has spurred other established brokers like E*Trade, Charles Schwabs & TD Ameritrade to eliminate their commissions.
They offer an intuitive user interface that makes it easy for beginners to access the application.
Robinhood is also a gamified stock trading app. One can unlock different levels as they move forward. For example,
Level 1: Buying and trading stocks
Level 2: Options trading
One can unlock more levels as they learn. This approach adds a video game feel to the app.
One can earn free stocks using a referral code when they sign in for the first time.
Sign in/ Sign up
Secure payment gateway
Scrum at its core appeals to learning and adjusting to change. It aims to allow teams to naturally adapt to new requirements and changes in the markets.
The development process revolves around ‘Sprints’ i.e. short iterative release cycles. Sprints are normally two weeks long but your team can decide the length accordingly.
The development team has a list of features, requirements, stories, and fixes to work on.
This is called a ‘Product Backlog’. A to-do list that helps the team choose which task they will work on in the next sprint. A time period where the team can create a shippable increment of the work done.
Ceremonies are the hallmark of the Scrum framework. They bring regularity in development and are responsible for transparent and clear communication. The four of Scrum’s ceremonies are:
Sprint planning: This ceremony helps the team members decide on what they want to accomplish in the following sprint.
Daily scrum or stand-up: A super-short meeting that allows the team members to voice their concerns, problems, or bugs they’re unable to solve and provide updates so that everyone stays on the same page.
Sprint review: An informal session to see a demo of what the team has accomplished so far. The team showcases its progress on the backlog items and seeks approval from the product owner for its release. The product owner reworks the backlog based on the tasks accomplished. This acts as a starting point for the next sprint.
Sprint retrospective: A retrospective is where teams talk about what worked well and what didn’t in the sprint. They also discuss what can be improved next time.
Amplify your business and take advantage of our expertise & experience to shape the future of your business.