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M&A
Robinhood acquires Pluto Capital to enhance Robinhood’s platform capabilities
Retail Trading Infrastructure
Jul 1, 2024
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Retail Trading Infrastructure

Retail Trading Infrastructure

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Jul 1, 2024

Robinhood acquires Pluto Capital to enhance Robinhood’s platform capabilities

M&A

  • Robinhood, an online trading platform, announced the acquisition of Pluto Capital Inc., an AI-powered investment research platform, for an undisclosed sum to enhance Robinhood's platform capabilities.

  • Founded in 2021, Pluto Capital uses AI to offer customized investment strategies by analyzing market data, risk tolerance, investment goals, and historical behavior.

  • Through this acquisition, Robinhood plans to leverage Pluto's AI capabilities and expertise to enhance its platform and offer AI-powered tools, custom investment strategies, and analysis for users.

  • Jacob Sansbury (founder and CEO of Pluto) will onboard Robinhood following the acquisition to help integrate AI-powered capabilities into its platform and accelerate its product roadmap.

  • Analyst QuickTake: Robinhood has been on an acquisition spree for 12 months. The company announced plans to acquire X1 , a digital credit card provider, for USD 95 million ( June 2023 ) before it acquired Bitstamp , a cryptocurrency exchange, for USD 200 million ( last month ) before it acquired Pluto Capital Inc. for an undisclosed sum.

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