What do Jay-Z, Nasir Jones (also known as Nas), and Snoop Dogg have in common? Aside from being Black Americans, being successful music stars, and having big bank accounts, they are co-investors in the free stock trading app called Robinhood.
Jay-Z's new venture capital firm Arrive just announced that he will be investing in Robinhood, a free stock trading platform. Jay-Z will be joining Nas and Snoop Dogg who were its big-time backers since 2014.
From its launch in 2013, Robinhood has currently accumulated over 3 million users and is valued at about $1.3 billion.
Last January, the trading service company also announced about Robinhood Crypto which would allow users to trade cryptocurrencies such as Bitcoin and Etherium. Through the app, users can build their portfolios and test the cryptocurrency markets without having to deal with fees or middlemen.
Arrive was launched in early 2017 with the goal to help start-ups with branding, business development, advisory, and capital services to increase growth. It has previously invested in Devialet, a French audio technology company, and InSite Applications, an upcoming location-sharing service.
For more information about the Robinhood app, visit www.robinhood.com