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Robinhood Has Lost its One True Advantage

The trading platform's user growth has slowed considerably in the past two quarters.

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Tim Connors core team
8 months ago

Co-Founder & Founding Investor @ Platform Venture Studio

In 2020, a year when Robinhood added 7.4 million net funded accounts, it spent $186 million on marketing—or $25 per account. In the latest quarter, it spent $44 million on marketing, or about $147 per net new account.
Tim Connors core team
8 months ago

Co-Founder & Founding Investor @ Platform Venture Studio

User growth numbers had made up for the company’s other shortcomings, including the fact that most of its customers had very small balances, with a median balance of $240 as of last February.

Tim Connors core team
8 months ago

Co-Founder & Founding Investor @ Platform Venture Studio

pretty ugly unit economics

Jeremy Burton core team
8 months ago

CEO / Founder / Managing Partner @ Platform

I imagine going to get an order of magnitude worse with this latest market downturn. A whole generation has gotten used to the market always going up.

Tim Connors core team
8 months ago

Co-Founder & Founding Investor @ Platform Venture Studio

indeed.