Stock trading app Robinhood revamps its newsfeed with The Wall Street Journal and ad-free videos
Robinhood may be best known its free stock trading, but today it’s rolling out a new version of the newsfeed, adding content from Reuters, Barron’s and market coverage from The Wall Street Journal, with no paywall or additional charge.
In addition, Robinhood is introducing video into the newsfeed, with ad-free videos from CNN Business, Cheddar and (again) Reuters.
The startup, which recently raised $323 million at a $7.6 billion valuation, has been showing more interest in content lately with the acquisition of the financial podcast and newsletter MarketSnacks — and as part of the redesign, the newsletter (now called Snacks) can be read directly in the app.
“A lot of this is not even about making investment decisions,” Robinhood’s Vice President of Product Josh Elman told me. “[Some users] check Robinhood very, very often just to consume the news and understand the companies that they’re watching, the ones that they are invested in and continuing to hold.”
He added that just buying and selling stocks is “sort of a utility,” so Robinhood wants to help its users “to feel informed, to be empowered to make their own decisions.”
Before redesigning the newsfeed, Elman said the team did a seven-day