Jay Z has been making headlines these past few weeks for his various business ventures. From trading marking his “Paper Planes” brand to opening up a new restaurant called Hovino, Jay Z is always looking to stretch his bank account, and it appears he’s now investing in a new stock trading app next.
Back in 2017, Jay Z and Roc Nation launched a new company called Arrive with a mission to invest in start-ups & help companies develop their business and provide them with financial support. On Tuesday, nearly a year after its launch, Arrive announced its newest investment in the free stock trading app Robinhood.
"We believe in Baiju and Vlad’s mission to make the financial markets more accessible and cost-efficient for customers of all sizes," Arrive President Neil Sirni said. "Robinhood will have our support as they execute the long-term vision of their company.”
Robinhood was created by financial experts Vlad Tenev and Baiju Bhatt and is designed to teach users how to track and invest in stocks. It is currently valued at $1.3 billion and already has over 3 million users since launching its service in 2013.
This isn’t the first company Arrive has invested in however. In fact, it’s the third company following up the French audio technology company Devialet and a location-sharing platform called InSite Applications which is set to launch later this year.
As always, we'll continue to keep you posted on all of Hov's business ventures moving forward.