Robinhood launches a financial news subsidiary known as Sherwood Media

Robinhood, a financial services company based in California, has announced that it will expand its business. Robinhood is planning to launch a platform where users can access financial news. The new platform will be known as Sherwood Media.

Robinhood launches a financial news subsidiary

Robinhood is a financial services company that operates one of the largest commission-free investment and stock trading platform known as Robinhood. The company also operates three other subsidiaries: a crypto asset service provider, an institutional brokerage platform, and a brokerage clearing service provider.

Robinhood said Sherwood Media would share news about the financial markets, business, technology, and the economy. The company has further said that the platform’s success will be influenced by Snacks, the daily markets, and business newsletter that the company also runs.

The brokerage platform has also announced that Joshua Topolsky will be the Editor-in-Chief and the President of Sherwood Media. Before joining Robinhood, Topolsky worked as Bloomberg’s ex-Chief Digital Content Officer.

Topolsky has extensive media industry experience, equipping him for the role that awaits him at Robinhood. Before joining Sherwood Media and besides working at Bloomberg, Topolsky was the former Chief Editor of The Verge, a company that he also founded. He has also previously served as the Vice President of Vox Media Inc.

While speaking of his appointment at the new company, Topolsky noted that Sherwood media would focus on the modern generation with a different perspective on money and the financial markets. He added that the goal was to create a news organization that would be well-positioned for the future.

“The next generation looks at money and the markets through an entirely new lens. They live at a different speed – and they want something more substantive in their diet. We have this unique moment and position and perspective to build a news organization for the next wave, and I’m super excited to be a part of it,” Topolsky said.

Financial service companies venture into media publishing

Robinhood is entering the news publishing sector when many financial service companies are also shifting their attention toward news publishing. TipRanks, a financial big data company that provides research tools needed by retail investors, has also made a similar move.

TipRanks unveiled plans to close the acquisition of The Fly, a financial news publication based in New Jersey. The deal was expected to close in Q1 2023, and it plans to strengthen the existing services offered by TipRanks. The company’s acquisition will result in TipRanks providing its users with access to timely market data and information.