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Robinhood overthrows E-trade in user numbers, announces $5.6 billion valuation

May 10, 2018

Via: CNBC

Stock trading app Robinhood has beat its rival E-trade when it comes to users, doubling the number of accounts in the past year.

The start-up now has 4 million brokerage accounts on its platform. On Thursday it announced a $363 million funding round, valuing the company at $5.6 billion, which is quadruple its valuation from about a year ago.

New investors included Sequoia, Google’s venture capital fund Capital G, and Iconiq. DST Global, led this Series D round and had facilitated the $110 million round last year, when Robinhood had 2 million users.

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