Trading app Robinhood is setting up an independent media arm, called Sherwood, that will cover things like money, technology and geopolitics through newsletters, a website and events. While Robinhood did not attempt to monetise Snacks, Sherwood will look to make money through advertising.
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Robinhood already has a daily markets newsletter, called Snacks, which will now move to the new independent Sherwood venture, where it will be joined by other offerings, which could eventually include video and podcasts.
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Joshua Topolsky, who is leading the trading app, said, “It’s a significant, long-term investment.” Joshua Topolsky is the former editor-in-chief of tech news site The Verge and ex-chief digital officer at Bloomberg Media. He also added that he plans to hire dozens of reporters, editors and social media content creators this year.
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He further said, “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.”
