Co-founder and chief creative officer Baiju Bhatt has left online stock trading business Robinhood to "pursue other entrepreneurial interests".
Co-founder and chief creative officer Baiju Bhatt has left online stock trading business Robinhood to "pursue other entrepreneurial interests".
Bhatt will continue to serve on the board of directors for Robinhood. After the company was listed on the Nasdaq exchange in July 2021, he also owns 8% of the company.
Although US-based Robinhood was founded in 2013, the company really came to light during the epidemic in 2020 and 2021 due to the surge in popularity of online trading.
The business was also linked to the trend of meme stock trading, which was sparked by the early 2021 "short squeeze" on the shares of video game retailer GameStop.
Bhatt departs during a period when business is brisk. Following three failed launches, it eventually made its way to the UK earlier this month.
Additionally, in 2023, it let go of 150 workers, or 7% of its total employment, and Alphabet, the parent company of Google, sold its investment in the business.
The other co-founder, Vlad Tenev, praised Bhatt for his "piviotal role in opening access to the market for millions of new investors" as he left the company.
In the meantime, Bhatt stated: "I will have more to say about my next steps soon but know the future has never been so bright" .
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