Along with Jay-Z, other artists like Snoop Dogg and Nas have also invested in Robinhood.
The figure, however, is “a pre-money valuation. The company received an estimated $7.6 billion valuation after a funding round in July 2019. The online service dealt with a fair share of technical problems, outages, and maxed-out credit lines, blaming the problems on “unprecedented” user demand. An outage on March 2nd lasted for the entire U.S. trading session, during which the S&P 500 climbed 4.6%.