Vlad Tenev, co-founder and CEO of Robinhood rings the opening bell on the Nasdaq on July twenty ninth, 2021.
Supply: The Nasdaq
Inventory buying and selling app Robinhood mentioned Wednesday will let most of its 3,400 individual workforce work remotely on a everlasting foundation.
The newly public brokerage is headquartered in Melo Park, California; nonetheless, for a big phase of Robinhood workers there can be no location or in-office requirement, the corporate mentioned.
“Our groups have performed wonderful work and constructed a powerful office neighborhood throughout these unsure and difficult instances, and we’re excited to proceed to supply them the flexibleness they’ve requested for by staying primarily distant,” Robinhood said in a blog post. The plans have been introduced to Robinhood workers in December.
Robinhood considers itself a expertise firm, and its transfer follows tech corporations like Coinbase, Okta and Shopify going totally distant. Different megacap tech giants like Meta Platforms and Microsoft have created versatile work applications in response to the pandemic.
The submit mentioned Robinhood is constructing out its technological capabilities to assist this alteration. The agency can be creating applications to deal with the challenges that work-for-home poses for sure underrepresented teams.
Shares of Robinhood have been punished in current months and are 80% of their most up-to-date excessive. The inventory sits round $17 per share after opening at $38 per share in it is public debut in July.
Shares of Robinhood have been up barely Wednesday.