Baiju and Vlad are the co-founders of Robinhood Financial, which created a smartphone stock trading app that offers its users the opportunity to trade without any transaction costs. They entrepreneurs were able to register almost 1 million users before the app was fully developed.
The valuation of Robinhood Financial was at US$1.3 billion in early 2017. At the beginning of 2018, Bhatt and Tenev announced that the app would be rolling out a no-fee crypto-trading function. Within four days of the news being announced, 1 million new users had signed up to the service – even though it was currently only available in five states.
Robinhood Financial is now valued at $5.6 billion.