Robinhood Expands Physical Presence with New Office in Charlotte

California-based trading app, Robinhood will open a new office in Charlotte as it looks to scale its business and better serve its customers.

In a blog post announcing the news, Robinhood said it is looking to fill the new location with over 100 new hires in the areas of marketing, compliance and elsewhere. The new Charlotte office brings Robinhood’s physical presence to eight cities in the US.

Robinhood noted that the new office comes even as its employees continue to work remotely. Since 2020, the company went from an onsite office-based workforce to a hybrid setup with employees split between home and offices scattered across the map.

“Charlotte is known for its talented and diverse workforce, making it an easy choice as we looked to expand our operations. We’re confident that Charlotte’s workforce will further contribute to our mission and lower the barriers to investing for all. We’re thrilled to join the Charlotte community,” said Alex Mesa, Head of Customer Experience.

"With the second-largest financial center in the nation, North Carolina is one of the fastest-growing tech hubs where companies like this know they can flourish," said North Carolina Governor, Roy Cooper.

Robinhood Opens First East Coast Hub

Expanding its presence to North Carolina comes barely a few weeks after the stock-trading app, which is currently based in Menlo Park, opened two offices in New York and Seattle. At the time, the Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term said it expects to eventually make ‘hundreds of additional hires’, to serve customers from the financial hub of the world.

A surge in retail investing drove millions to the Robinhood platform, having added six million funded accounts to its cryptocurrency service so far this year.

With the new round of stimulus checks already delivered, Robinhood Markets, alongside other online brokers, anticipate their retail clients may funnel a good chunk of that money into their stock trading accounts. Additionally, they expect the new Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term could provide a boost for penny stocks embraced by individual investors active in online social media forums, such as Reddit’s WallStreetBets.

Robinhood is expected to launch an initial public offering in the second quarter of this year, potentially at a valuation of $40 billion.