Fee-free inventory buying and selling app Robinhood purchased media firm MarketSnacks, the corporate introduced at the moment, and is re-launching the acquisition's monetary information podcast and publication as Robinhood Snacks. Becoming a member of the Robinhood staff as managing editors of stories are MarketSnacks co-founders, Jack Kramer and Nick Martell. Phrases of the deal weren't disclosed.
MarketSnacks had "tens of 1000's of subscribers" two years in the past, reported Fortune. Enterprise Insider positioned that quantity within the six figures. The corporate has syndication offers by way of Constancy and Betterment, amongst others. The corporate was based in 2012.
MarketSnacks' common consumer is in his or her 20s and 85 % of subscribers are beneath the age of 36, based on Fortune. In the meantime, Robinhood's common consumer is 32 years previous and 50 % of the shopper base is a first-time investor. Following the acquisition, the newsletters might be open to anybody, whereas the day by day podcast might be accessible by way of the app.
To be clear, the acquisition and rebranding means Robinhood is not launching its personal publication, however will probably be in a position to present monetary information to "hundreds of thousands of individuals every single day," stated Kramer and Martell in a Robinhood blogpost. Robinhood Snacks will even have entry to investor information, offering insights to different customers on the platform.
The duo might be relocating from New York Metropolis to Robinhood's headquarters in Menlo Park, Calif.
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