Robinhood Markets Inc., commonly known as Robinhood, is an American financial service provider and has newly made its steps in the industry. Starting in 2013, Robinhood created an online platform where investors can buy and sell stocks, exchange-traded funds, and get certain mobile-based financial services. The company name states its philosophy – Provide everyone with access to the financial market, not just the wealthy – as the Robinhood character did.
Mission Statement of Robinhood
The mission statement of Robinhood is, “We are a mission to democratize finance for all. “
Robinhood believes in equal access to the financial system that enables all kinds of people to create their financing pathways. If we analyze the mission statement, we can figure out what the company is and whether it follows its mission.
Financial democracy for all: As we all know, the fictional character Robinhood gave money to poor people and tried to create an equilibrium in society. In reality, the financial market is also used by wealthy people. Robinhood has come up with the mission to Provide everyone with access to the financial market, not just the wealthy. How Robinhood democratized finance for all?
- Create an online platform for mass people.
- The commission is available for investors.
- Anyone can buy and sell stocks, exchange and trade funds (ETF), and American depository receipts (ADRs).
- Users can invest in cryptocurrency.
Make investment easier: Robinhood takes the initiative to make investment opportunities available for everyone. They create awareness about financing and investment scopes. Customers get assistance from the platform regarding business models, markets, and securities. Robinhood Gold service offers discounts in Morning Star research reports, NASDAQ level 2 market data, bigger instant deposits, and many more.
Vision Statement of Robinhood
Robinhood’s vision statement is, ” To become the most trusted, low-cost, and most culturally relevant money app worldwide.”
The vision is very clear and straightforward, also compatible with the company mission. The company has yet to achieve its vision. However, it has worked toward its goal. The key components of the vision statement are:
Global company: As a fintech company, Robinhood aims to spread its service globally. Currently, it works as a public company in the United States. They deal with the US money market only. The aim is to involve people around the world. Their mobile app works around the world and accepts some restricted countries.
To be the most trusted company: Robinhood constantly focuses on delivering its value to the customer. Reliability is the core of its heart. To become a trustworthy company, it puts safety first. Customer-centric attitude helps them to grow as a trusted company. High-security standards, dedicated support, extra protection, and transparency are some core commitments to building trust among customers.
Provide service at a low cost: Robinhood has developed low-cost services. To make it widely acceptable, Robinhood provides its service at a low price. Brokers and investors can get discounts. The company maintains its revenue streams strategically to provide low-cost service.
Become culturally relevant: Cultural inclusion is needed in this era. Mostly, when one wants to grow globally, it requires inclusiveness. Robinhood strives to make the money app culturally relevant for all kinds of users.
Core values of Robinhood
The core values of Robinhood Inc. Corporation are-
- Safety first
- Radical Customer focus
- Participation is power
- First-principle thinking
Does Robinhood change its mission or vision?
No, Robinhood never changes its mission or vision.
What is the motto of Robinhood?
The motto of Robinhood is to democratize finance for all.
What is new in Robinhood?
The fintech company Robinhood provides a 100% commission-free stock, option, ETF, and cryptocurrency trade.