Robinhood’s stock trading app grew rapidly during the pandemic, resulting in hundreds of millions of dollars more in funding – most recently in a $ 200 million round that saw the company valued at $ 11.2 billion would have.
The content side of the business has also grown. The company acquired the MarketSnacks financial podcast and newsletter early last year and renamed it Robinhood Snacks. Now it is said that the Snacks newsletter has 20 million subscribers while the podcast has nearly 2 million monthly listeners. And a shorter version of the podcast, Snacks Minute, was one of Spotify’s most popular podcasts of the summer.
The next step: start a video series, also called Robinhood Snacks that will be available on Robinhood / Robinhood Snacks YouTube and Instagram accounts.
Snacks founders Jack Kramer and Nick Martell will continue to host the podcast and they will also host the video series. Like the rest of its content, it is a news-centric show filmed from their living rooms and quickly edited by the Robinhood Snacks team.
He argued that video is the best way to reach new, younger audiences who may not read the newsletter or listen to the podcasts. The approach is similar to other Robinhood Snacks products, analyzing two large financial reports in less than three minutes in a way that should be accessible to normal viewers.
Kramer suggested that like Robinhood, Robinhood Snacks is trying to “Democratize Finance For All”, delivering financial news in “entirely new ways”. As Martell put it, they want snacks to be useful to seasoned investors while remaining accessible to people who don’t know “what a profit report [is]I am unaware of any income from profits and may be confused as to why the Tiffany acquisition does not go through. “
“When we cover the news, we focus on: How is this relevant to the listener as a consumer?” Kramer added. “How is this relevant for investors as a potential investor in the company’s shares? And how is this interesting and relevant to consumers in terms of trends that play a role in the story we are telling? It’s not just about earnings per share. “
The ultimate goal is to make finance “as culturally relevant as music, sports and the arts”.