Robinhood launches Sherwood Media with Vox co-creator at helm
Shares of Robinhood are moving to the upside on news that Vox co-creator Joshua Topolsky will lead the company's new media venture.
Video Transcript
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SEANA SMITH: It's time for our Triple Play, three stocks that we're watching in the final 30 minutes of trading. We have Robinhood, Tesla, and Diageo. Let's start with Robinhood on its push here further into the media business. Now, the retail trading platform launching an independent brand called Sherwood. Now, it's a move that builds on the firm's popular daily markets newsletter "Snacks." Sherwood Media will be a subsidiary of Robinhood and led by Joshua Topolsky, who co-founded The Verge and was also the co-creator of Vox Media.
Now, in a blog post, Robinhood writing that Sherwood will be, quote, "a home for news and information about the markets, economics business, technology, and the culture of money." Pras, it will be interesting to see how all of this plays out. But Robinhood expanding its business, looking for, I guess, another revenue stream. We'll see. We know that its markets newsletter has been very successful so far. So maybe this push, I think, you could argue makes a lot of sense.
PRAS SUBRAMANIAN: Yeah, you know, I'm little surprised they're investing in this content. But I guess, hey, get more retail traders in there. Get more people who are interested in those big tech names that Josh Topolsky, former Engadget guy-- so a company man here, former, back in the past. So maybe he can focus on those big names like Apple and Google and all those guys, get people excited about them, and, of course, all those meme stocks. You know, so I think that's a-- Sherwood Media is the name for Robinhood, right?
