Robinhood beefs up executive team with Google veteran to lead product ahead of IPO

Robinhood hires Aparna Chennapragada as first chief product officer

Robinhood has hired a top Google executive as its first chief product officer earlier than its upcoming public debut.

The buying and selling begin-up talked about Wednesday this can assert on Aparna Chennapragada, who spent 12 years at Google leading product, engineering and make teams. She became most lately vp for user browsing, and led product efforts for Google Search and YouTube.

Chennapragada, who’s additionally on the board of Capital One, talked about she spent her profession at Google “constructing products that abet billions of folks in their day to day lives” and at Robinhood, plans to “abet more folks form their monetary future and personal wealth.”

“Robinhood has built a uniquely accessible product that has opened up the monetary markets to thousands and thousands of folks,” Chennapragada talked about in an announcement Wednesday.

Robinhood has attain under criticism for making markets too accessible in some cases, and “gamifying” stock markets. CEO Vlad Tenev testified in entrance of Congress in February and addressed the buying and selling frenzy round GameStop, as successfully as Robinhood’s dedication to shut down the rob facet of sure trades.

Whatever the GameStop controversy, Robinhood’s particular person enhance, trace recognition and valuation appear to love gotten a boost. Demand for Robinhood shares in personal markets surged in February, and Robinhood won 3 million customers in January by myself, per estimates from JMP Securities.

The firm has beefed up hiring in contemporary months to attend up with quiz and buyer carrier complaints. On Monday, Robinhood launched it would rob recruiting firm Binc to double the scale of its recruiting group.

Robinhood has been identified to tap executives from both Wall Avenue and Silicon Valley in its eight-yr historical past. It hired aged SEC commissioner Dan Gallagher as the pinnacle of advantageous final yr, and its first chief marketing and marketing officer, Christina Smedley, came from Fb. Robinhood’s CFO joined after two decades at Amazon and its chief working officer, Gretchen Howard, is additionally a aged Google executive.

The begin-up is most productive identified for lowering the barrier to entry for a flood of up to date retail investors and kicking off a wave of brokerage corporations slashing commissions to zero. The begin-up has attracted investments from Sequoia, Kleiner Perkins and Google’s enterprise capital arm, GV. It became final valued at $11.7 billion, nevertheless is anticipated to score a valuation up to four-cases that quantity in its eventual IPO, per its early investors.

The U.S. brokerage firm is anticipated to dash public within the arrival months, and chose the Nasdaq as the trade for its eventual debut, sources conscious of the topic knowledgeable CNBC. The firm has no longer officially filed for the itemizing.

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