Biography Robinhood: The Story of An $120 Billion Super App
Oct 27, 2025
Vlad Tenev, co-founder and CEO of Robinhood, shares his journey from a Bulgarian immigrant to building a revolutionary trading app. He discusses the influence of the Occupy Wall Street movement on their mission to democratize trading. Highlights include their unexpected success during the GameStop surge, the challenges faced after going public, and how rising interest rates impacted trading volumes. Tenev also touches on the company's pivot towards multiple revenue streams and the ongoing quest for profitability.
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Dual Innovation Unlocked Mass Adoption
- Robinhood combined product (mobile-first) and business-model (commission-free) innovation to unlock huge adoption.
- The timing of mobile, electronic trading, and post-crisis distrust made the move explosive.
From Bulgaria To Stanford Then Startups
- Vlad immigrated from Bulgaria and grew up valuing education and stability.
- That background shaped his initial path toward academia before pivoting to startups.
Failed HFT Pivot Led To Kronos
- Vlad and Beiju left grad school and jobs to start a high-frequency trading firm that failed.
- They learned they were better at building technology than trading, prompting a pivot to enterprise software (Kronos).
