Robinhood is a platform that allows you to invest in stocks, options, and ETFs. The intention of the company founders, Vladimir Tenev and Baiju Bhatt, was to create an app for easy and free stock trading. The company’s funding story involves celebrities such as Nas, Jared Leto, Snoop Dogg, and Jay-Z.
How Did Celebrities Get Involved with Robinhood?
Early on, the company’s founders met celebrities through networks. Robinhood ended up raising $3 million in seed round funding in 2013 and $13 million in Series A funding in 2014, followed by even more rounds of funding. Nas, Jared Leto, Snoop Dogg, and Jay-Z have invested in Robinhood.
Rapper Nas and His Venture Capital Fund
Rapper Nas is one of the richest rappers in the world, with a net worth of $60 million; indeed, as of 2019, he has sold over 25 million records. As a founding partner of QueensBridge Ventures, Nas has invested in dozens of companies.
Jared Leto’s Robinhood Contribution
Actor and singer Jared Leto has been famous for decades, after starring alongside Claire Danes in My So-Called Life. Additionally, Leto has a net worth of $40 million and an Academy Award. The story is that after contributing to Robinhood, Jared Leto introduced the company founders to Snoop Dogg.
Snoop Dogg’s Notoriety
Certainly, Snoop Dogg’s investment in Robinhood gave the project a huge amount of notoriety. He is well-known for his award-winning albums, television appearances, and multiple record labels. Moreover, he has a net worth of approximately $135 million, and he paved the way for Jay-Z to invest in Robinhood.
Jay-Z’s Venture Capital Initiatives
Jay-Z, the world’s first billionaire rapper, is, of course, well-known for his own award-winning career. In 2017, Jay-Z launched Arrive, a venture capital firm for investing in startups. After investing in apps like Uber and Robinhood, Jay-Z partnered with Walden Venture Capital managing director Larry Marcus and Roc Nation president Jay Brown to launch a new venture capital fund, Marcy Venture Partners.