The Ledger
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Tenev: Robinhood offers over 1,500 tokenized stocks in Europe
“1500 stocks are available for trading in Europe right now.”
Tenev: Robinhood holds about $350 billion in assets under custody
“Our business right now, we've got about three hundred fifty billion assets under custody and it's fairly well diversified. You know, the bulk of it is in stocks and we have a little bit of crypto as well.”
Tenev: Robinhood cash sweep grew from zero to tens of billions
“The cash sweep program, we call it the high yield offering has gone from basically nothing in 2022 to tens of billions of dollars under custody.”
Tenev: Robinhood Has 11 Business Lines Generating Over $100M in Revenue
“And now we have 11 business lines that generate a hundred million in annual revenue or more.”
Tenev: Video earnings calls increased Robinhood's live audience to up to 100,000
“So we went from, I think, hundreds of listeners on the old Polycom style earnings to tens of thousands, maybe, maybe even a 100,000 at the last one. So it increased the actual audience of our earnings by multiple orders of magnitude.”
Tenev: Robinhood Gold reached 4M subscribers, including 40% of new signups
“Robinhood gold itself, which is a subscription product, we're up to four million gold subscribers, you know, and that's really ramped. Now, now at this .15% of all of our customers thereabouts are Robinhood gold subscribers, and of the customers that join on a…”
Opendoor was first non-Robinhood company to stream earnings on Robinhood
“Which we were the first company to actually stream our earnings on Robinhood, other than Robinhood themselves.”
Tenev: Robinhood was heavily concentrated in Dogecoin and meme stocks in 2021
“Whereas in 2021, Robin was much less diversified. We had higher concentration in, in crypto, particularly Dogecoin. And a lot of the activity was much more concentrated in stocks that were sort of like these meme story stocks.”
Tenev: Opendoor was first partner to livestream earnings inside Robinhood app
“So they became the first partner that we actually they not only live stream their earnings and took questions live, but they live streamed it in our app on Robin hood to their retail shareholders.”