Robinhood Co-Founder Baiju Bhatt Steps Down
India-West Staff Reporter
MENLO PARK, CA – Robinhood Markets has announced that it’s co-founder and Chief Creative Officer, Baiju Bhatt, will step down from his executive role after over ten years in leadership to pursue other entrepreneurial interests.
Bhatt will remain a member of Robinhood’s Board of Directors.
“Baiju and I have been co-founders for over 10 years and friends for over 20,” said Vland Tenev, CEO and a fellow co-founder of Bhatt. “His passion for entrepreneurship and commitment to our mission to democratize finance for all helped build Robinhood from a seed of an idea to the global public company it is today. Baiju played a pivotal role in opening access to the markets for millions of new investors, and I am grateful for all of his contributions to Robinhood over the last decade.”
“Since I helped found this company in 2013, Robinhood has been my life. For more than a decade, I have worked tirelessly to drive our mission to democratize the financial services industry for the betterment of society,” said Baiju Bhatt, Chief Creative Officer and Co-Founder of Robinhood. “It has been a privilege to work with some of the most dedicated, creative, and innovative people who have delivered daily for our customers and shareholders. I look forward to remaining a member of the Robinhood Board of Directors and continuing to support our mission. I will have more to share about my next steps soon but know the future has never been so bright.
According to Forbes, the outgoing CCO owns 8% of the company, which went public on the Nasdaq exchange in July 2021.
Bhatt’s exit from the CCO position comes after an eventful year for Robinhood in 2023. The company reportedly underwent a workforce reduction of approximately 150 full-time employees, 7% of its total workforce, in June last year, while in the same month it completed the acquisition of San Francisco-based credit card platform X1 for $95 million. The company has also launched in the UK this year after hiring Jordan Sinclair as its UK CEO last summer, Fintech Futures said.
