Robinhood CEO tells AP it’s eyeing expansion beyond trading

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NEW YORK (AP) — Robinhood has already changed how and which people trade stocks. Now its sights are on the rest of the financial industry. CEO Vlad Tenev says he wants Robinhood to be the only app that people use on their phones for money. That covers everything from depositing paychecks to paying bills to splitting payments with friends. Tenev founded Robinhood with fellow Stanford graduate Baiju Bhatt in 2013. He says he accepts how his company has become synonymous with the boom in trading by smaller-pocketed and novice investors, for both good and ill. He sees it as helping more people to grow their wealth.

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