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Robinhood co-founder Baiju Bhatt departs to “pursue other entrepreneurial interests” | Fintech InShorts: Latest fintech news, analysis by experts

Robinhood co-founder Baiju Bhatt departs to “pursue other entrepreneurial interests”

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Robinhood co-founder Baiju Bhatt departs to “pursue other entrepreneurial interests”

March 30, 2024

Baiju Bhatt, co-founder and Chief Creative Officer (CCO) of US-based online trading platform Robinhood is stepping down from his position after ten years at the company.
Bhatt, who also served as co-CEO until November 2020, will remain a member of Robinhood’s board of directors.
He owns 8% of the company, which went public on the Nasdaq exchange in July 2021.
Vlad Tenev, CEO and fellow co-founder of Robinhood, praises Bhatt’s pivotal role in democratizing access to the markets for millions of new investors.
Bhatt expresses that Robinhood has been his life since its founding in 2013 and hints at pursuing other entrepreneurial interests while promising to share more details about his future endeavors soon.
Robinhood, headquartered in California, operates three divisions: Robinhood Financial, Robinhood Crypto, and Robinhood Money.
Bhatt’s departure follows a workforce reduction of approximately 150 full-time employees (7% of the total workforce) in June 2023.
In the same month, Robinhood completed the acquisition of San Francisco-based credit card platform X1 for $95 million.
The company expanded its operations to the UK in 2023, appointing Jordan Sinclair as its UK CEO.

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