On Tuesday, Robinhood, a California-based financial services company, announced the expansion of its business with the launch of a financial news platform, Sherwood Media.
The company, which operates the major US commission-free stock trading and investing application Robinhood, also runs three other subsidiaries: a digital asset service provider, an institutional brokerage firm, and a broker-dealer and brokerage clearing services provider.
In a statement, Robinhood noted that Sherwood Media will provide news about financial markets, the economy, business and technology. The company added that the new financial news platform will build on the success of Snacks, its daily markets and business newsletter.
Robinhood Appoints Joshua Topolsky as Chief Editor of Sherwood Media
In addition, the financial services company announced the appointment of Joshua Topolsky, Bloomberg’s ex-Chief Digital Content Officer, as the Editor-in-Chief and President of Sherwood Media. Moreover, Topolsky is the Founder and former Chief Editor of The Verge as well as a one-time Vice President of Vox Media, Inc.
Speaking on the focus of the newly-established media arm, Topolsky noted that the financial news platform will seek to serve a generation of news consumers with a different perspective on money.
Watch Finance Magnate's engagement with Jamie Rogozinski, the Founder of WallStreetBets.
“The next generation looks at money and the markets through an entirely new lens, they live at a different speed — and they want something more substantive in their diet. We have this unique moment and position and perspective to build a news organization for the next wave, and I’m super excited to be a part of it,” Topolsky explained.
TipRanks Ventures into News Publishing
Robinhood's venture into the news publishing business comes some weeks after TipRanks, a financial big data company that offers research tools to retail investors, announced its intention to acquire New Jersey-based financial news publication, The Fly.
Finance Magnates reports that the acquisition deal, which is expected to be completed during the first quarter of this year, will strengthen TipRanks' existing services.
