Robinhood Acquires Pluto Capital: Key Points
- Acquisition Details:
- Robinhood acquires investment research platform Pluto Capital for an undisclosed sum.
- Marks Robinhood’s second acquisition in less than a month.
- About Pluto Capital:
- Founded in 2021, based in Los Angeles.
- Provides a free trading platform with AI-powered analysis tools and large language models (LLMs).
- Users can create and automate trading strategies for cryptocurrencies like bitcoin, ethereum, and polygon.
- Features include:
- Sparks programme: rewards for educational initiatives.
- Community dividend programme.
- Strategy monetisation programme: users can earn money by licensing their strategies to others.
- Manages an investment management fund focusing on digital assets.
- Strategic Fit for Robinhood:
- Acquisition expected to enhance Robinhood’s data analysis, personalised investment strategies, real-time insights, and portfolio optimisation capabilities.
- Pluto’s founder and CEO, Jacob Sansbury, to join Robinhood as an “AI technologist”.
- Statements and Goals:
- Mayank Agarwal, Robinhood’s VP of Engineering, praises Pluto’s platform and AI expertise.
- Acquisition aligns with Robinhood’s mission to democratise finance and integrate AI-powered tools.
- Recent Acquisition History:
- Follows Robinhood’s acquisition of global cryptocurrency exchange Bitstamp for approximately $200 million.
- Expands Robinhood’s reach into the EU, UK, USA, and Asia with Bitstamp’s 50-plus licenses and registrations.
