Robinhood Markets, Inc.
Acquisitions
5
Major Deals Covered
$735M
Disclosed Deal Value
Robinhood Markets's largest disclosed acquisition here is TradePMR for $300M in 2025. This page covers 5 major deals from 2019 to 2025, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| MarketSnacks | 2019 | Undisclosed | Robinhood acquired financial newsletter and media company MarketSnacks in 2019 to add editorial content capability, rebranding it as Robinhood Snacks, a daily market-news podcast and newsletter aimed at retail investors who were often new to markets. |
| Say Technologies | 2021 | $140.0M | Robinhood acquired shareholder-communications platform Say Technologies for $140 million in August 2021, its first acquisition following its own IPO, to give retail investors tools for submitting questions and voting at company earnings calls and annual meetings. |
| X1 | 2023 | $95.0M | Robinhood agreed to acquire credit-card startup X1 for $95 million in June 2023 (with the final closing consideration valued at about $104 million), adding a no-annual-fee rewards credit card built on modern underwriting technology rather than traditional credit-bureau-only scoring. |
| TradePMR | 2025 | $300.0M | Robinhood agreed in 2024 to buy TradePMR, a custody and portfolio-management platform for registered investment advisers, for about $300 million; the deal closed in February 2025. |
| Bitstamp | 2025 | $200.0M | Robinhood agreed in June 2024 to buy Bitstamp, a crypto exchange founded in 2011, for about $200 million in cash, and closed the deal in June 2025. |
2025
$300M
Robinhood agreed in 2024 to buy TradePMR, a custody and portfolio-management platform for registered investment advisers, for about $300 million; the deal closed in February 2025.
Broadened Robinhood's wealth-management reach.
Added a route into advisory assets beyond self-directed trading.
2025
$200M
Robinhood agreed in June 2024 to buy Bitstamp, a crypto exchange founded in 2011, for about $200 million in cash, and closed the deal in June 2025.
Added institutional crypto trading and regulatory licenses outside the US.
Bitstamp's crypto balances are now included in Robinhood's Total Platform Assets.
2023
$95M
Robinhood agreed to acquire credit-card startup X1 for $95 million in June 2023 (with the final closing consideration valued at about $104 million), adding a no-annual-fee rewards credit card built on modern underwriting technology rather than traditional credit-bureau-only scoring.
X1's technology and team became the foundation for the Robinhood Gold Card, a cash-back rewards credit card offered exclusively to Robinhood Gold subscribers, extending the company's business model beyond trading commissions and payment-for-order-flow revenue into consumer lending and card-network interchange fees.
The Gold Card launched to a lengthy waitlist and became a significant driver of Robinhood Gold subscription growth, an important step in diversifying revenue beyond the trading-volume-dependent model that had made Robinhood's earnings volatile in prior years.
2021
$140M
Robinhood acquired shareholder-communications platform Say Technologies for $140 million in August 2021, its first acquisition following its own IPO, to give retail investors tools for submitting questions and voting at company earnings calls and annual meetings.
The deal reflected Robinhood's broader thesis that retail investors wanted more direct engagement with the companies they invested in, not just execution of trades, positioning the company as an advocate for retail shareholder rights within public-company governance processes traditionally dominated by institutional investors.
Say's proxy and engagement technology was integrated into Robinhood's platform, letting retail shareholders participate more directly in corporate votes and executive Q&A sessions than most brokerages had previously enabled.
2019
Robinhood acquired financial newsletter and media company MarketSnacks in 2019 to add editorial content capability, rebranding it as Robinhood Snacks, a daily market-news podcast and newsletter aimed at retail investors who were often new to markets.
The acquisition gave Robinhood an in-house content and media arm that could explain market events in an accessible, conversational tone consistent with the app's broader mission of demystifying investing for first-time retail traders.
Robinhood Snacks became a regular touchpoint keeping users engaged with the platform daily even when they weren't actively trading, supporting broader user retention and financial-literacy positioning.
Robinhood's growth strategy is to win "share of wallet" beyond trading: IRA matches and retirement transfers, the Gold Card, banking features, advisory custody through TradePMR, crypto exchange capacity through Bitstamp, event contracts, and expansion in the UK and EU. In June 2026 it cut about 10% of staff to flatten management layers while continuing to invest in new products.
Robinhood charges no commission on US stock, ETF and options trades and earns revenue in three buckets. Transaction-based revenues ($776 million in Q2 2026) come from payment for order flow on options and equities, spreads on crypto trades, and fees on event contracts (prediction markets). Net interest revenues ($389 million in Q2 2026) come from margin loans, securities lending, cash sweep balances and the credit card loan book. Other revenues ($143 million in Q2 2026) include Robinhood Gold subscriptions ($5 per month or $50 per year) and Trump Account service revenues.
Robinhood's largest acquisition is its agreement to acquire Bitstamp in June 2024 for approximately $200 million in cash, expected to close in early 2025.
Bitstamp provides Robinhood with an established global crypto exchange holding over 50 licenses worldwide, expanding Robinhood into the EU, UK, and Asia, and bringing an institutional crypto business with institutional clearing and white-label trading APIs.
In June 2023, Robinhood acquired fintech credit card startup X1 Inc. for $95 million in cash. The acquisition brought proprietary credit card underwriting and platform technology that directly enabled the launch of the Robinhood Gold Card in 2024.
In August 2021, shortly after its IPO, Robinhood acquired shareholder communication and proxy voting platform Say Technologies for $140 million to allow everyday retail shareholders to directly ask questions to public company executives during quarterly earnings calls.
In July 2024, Robinhood acquired Pluto Capital Inc., an AI-powered financial research and investment platform, appointing Pluto founder Jacob Sansbury to lead Robinhood's AI-driven personalized investment advice and market analysis tooling.
In April 2022, Robinhood agreed to acquire UK crypto app Ziglu. However, as crypto market valuations collapsed following the Terra-LUNA crash, Robinhood sought to renegotiate the purchase price from $170M down to $72M, and the acquisition was ultimately terminated in early 2023.
In December 2021, Robinhood acquired cross-exchange crypto trading platform Cove Markets to bolster Robinhood Crypto's order routing technology, trade execution algorithms, and market data infrastructure.
In 2019, Robinhood acquired daily financial news media company MarketSnacks (founded by Jack Kramer and Nick Martell), rebranding it into "Robinhood Snacks," which grew into one of the most widely consumed financial newsletters and podcasts in the world.
Robinhood builds core retail experiences (stocks, options, IRAs) internally, but executes strategic M&A when acquiring an established company provides instant regulatory licensing (Bitstamp), complex hardware/credit platforms (X1), or proprietary AI talent (Pluto).
X1 co-founder and CEO Deepak Rao joined Robinhood as General Manager of Credit Cards, leading the design and rollout of the stainless-steel Robinhood Gold Card and its consumer credit platform.
With over $4.5 billion in balance sheet liquidity, Robinhood is well-positioned to acquire registered investment advisors (RIAs), robo-advisory platforms, or regional European brokerages to accelerate its international and high-net-worth client expansion.
Robinhood has funded almost all of its major acquisitions (including Bitstamp, X1, and Say Technologies) using cash on hand from its fortress balance sheet, avoiding shareholder dilution.
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