Robinhood, the US-based online trading platform, has announced the departure of its co-founder and CCO, Baiju Bhatt, after a decade with the company. Bhatt, who also previously served as co-CEO until November 2020, will transition to pursue other entrepreneurial interests while maintaining his position on Robinhood’s board of directors. With Bhatt owning 8% of the company, which went public on the Nasdaq exchange in July 2021, his departure marks a significant change within the organization.
CEO Vlad Tenev acknowledges Bhatt's instrumental role in democratizing access to financial markets for millions of new investors, highlighting their longstanding friendship of over 20 years. Bhatt, reflecting on his tenure, expresses gratitude for his time at Robinhood, emphasizing its profound impact on his life since its founding in 2013. Robinhood, headquartered in California, operates across three divisions: Robinhood Financial, Robinhood Crypto, and Robinhood Money, offering digital investment platforms, crypto trading services, and associated debit and credit cards for customer purchases and rewards. Bhatt's departure follows a year of notable events for Robinhood, including a workforce reduction in June 2023 and the acquisition of San Francisco-based credit card platform X1 for $95 million.
