9/3/2023 0 Comments Robinhood active usersIt's still tiny by Reddit standards, but the message board has a certain rhythm down: discussion of earnings, advice about how to trade off the news and tales about a "kid" who lost $100,000 by betting wrong on Twitter.ĭecember 2014: After years of development, Robinhood launches its first trading app to the public on Apple's iOS app store. 14, 2013: Robinhood wins approval from the Financial Industry Regulatory Authority to operate as a stock brokerage, allowing it to expand beyond just tracking stocks.įebruary 2014: Barely two years old, WSB surpasses 5,000 subscribers on Reddit, according to SubredditStates, a site that tracks message boards. It targets younger potential investors with a mobile-only trading platform, and it will go on to become a favorite with WSB users. Initially it's just a way to track stocks, but the company is building toward the idea of being an online brokerage with no commissions. One popular early post is a "great vid" in which investor Mark Cuban says "diversification is for idiots."Īpril 2013: Robinhood is founded in the San Francisco Bay Area. And Reddit's mostly self-regulating communities ensure that users set the culture. Even though it's unorganized and small, it attracts people who aren't interested in relatively boring investments, like index funds, or in traditional ways of measuring the value of stocks. Late 2012: The culture of WSB begins to take shape. Let's play." (Later, the motto will change to something more sinister-sounding: "It's like 4chan found a Bloomberg terminal.") The discussion board will become known by the shorthand WSB. Its initial motto is playful, with little hint of what is to come: "Inspired by earnings seasons. January 2012: The "wallstreetbets" subreddit is created by Jaime Rogozinski, an entrepreneur living at the time in Washington, D.C. Here's a timeline of how r/wallstreetbets, also known as WSB, and Robinhood came to be.
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