Skip to main content

Robinhood hires CapitalG partner to lead operations

Robinhood’s human resources department is keeping busy this month, announcing this morning that the zero-fee stock trading app and cryptocurrency exchange has tapped CapitalG partner Gretchen Howard (pictured) to lead operations.

The news comes two days after the well-funded startup hired Jason Warnick, a long-time Amazon executive, as its chief financial officer. Warnick, Amazon’s former VP of finance, joins Robinhood amid speculation the fintech ‘unicorn’ is gearing up for an eventual initial public offering.

Robinhood hires 20-year Amazon veteran to CFO role as high-flying startup eyes IPO

Howard, who’s joining as a vice president, has been a partner at Alphabet’s growth investing arm since 2014. Before that, she was a vice president at Fidelity Investments.

Earlier this year, Howard helped source CapitalG’s first investment in Robinhood, though another partner, David Lawee, lead the deal. In addition to Robinhood, she’s worked closely with CapitalG portfolio companies CreditKarma, Lyft, Airbnb and Gusto.

Robinhood brought in a $363 million Series D funding round led by DST Global in May. The company raised the capital at a more than $5 billion valuation —  a 4x increase from its valuation one year prior. In total, Robinhood has secured $539 million in equity funding from ICONIQ Capital, Thrive Capital, NEA, Sound Ventures and several others since it was founded in 2013.

“I’ve been inspired by the velocity with which Robinhood builds and launches high-quality products and share their passion for democratizing financial services,” Howard said in a statement provided to TechCrunch. “While it’s bittersweet to leave Alphabet … I’m excited to remain in the Alphabet family and work closely with the CapitalG team from the portfolio side.”

While it seems to be more common for former operators to transition into venture investing, VCs, too, opt to switch sides of the table from time to time. Howard is a great example of this, as are two former Andreessen Horowitz investors Balaji Srinivasan and Asiff Hirji, who currently serve as Coinbase’s chief technology officer and chief operating officer, respectively. Coinbase is an A16z portfolio company.



from TechCrunch https://ift.tt/2rbgSaY
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/h6Kjrde via IFTTT
Post a Comment
Read more

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...
Post a Comment
Read more

What’s Stripe’s deal?

Welcome to  The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann Stripe eyes exit, reportedly tried raising at a lower valuation The big news in fintech this week revolved around payments giant Stripe . On January 26, my Equity Podcast co-host and overall amazingly talented reporter Natasha Mascarenhas and I teamed up to write about how Stripe had set a 12-month deadline for itself to go public, either through a direct listing or by pursuin...
Post a Comment
Read more