Robinhood was founded in 2013 by Vladimir Tenev and Baiju Bhatt. Our founders deeply believe that everyone should have access to the financial system. Our mission is to democratize finance for all. We are creating a modern financial services platform for everyone, regardless of their wealth, income or background.

Market opportunity

The stock market is widely recognized as one of the greatest wealth creators of the last century. But systemic barriers to investing, like expensive commissions, minimum balance requirements and complicated jargon-filled paperwork, have dissuaded millions of people from feeling welcome or able to participate. Over half of 18- to 44-year-olds in the United States know who Robinhood is, according to an internal brand study that we conducted in March 2021. As a further sign of our relevance today, Robinhood reached the No. 1 spot on the Apple App Store multiple times in the first quarter of 2021. As of March 31, 2021, we had 18.0 million Net Cumulative Funded Accounts on our platform, and from Jan. 1, 2015, to March 31, 2021, over half of the customers funding accounts on our platform told us that Robinhood was their first brokerage account.

Mister Car Wash is the largest national car wash brand, offering express exterior and interior cleaning services to customers across 344 car wash locations in 21 states, as of March 31, 2021.

Market opportunity

UWC is our all-you-can-wash subscription program for a flat monthly fee. We employ a “member-centric” business model that is focused on providing easy, convenient and fast car washes. Over the last several years, we have added dedicated member-only lanes and adopted radio-frequency identification (“RFID”) technology for our UWC Members to enable quick, contactless and convenient trips. In 2020, the average UWC Member washed their car over 30 times, which we believe is significantly more than the average car wash user. Increased UWC membership provides us consistent, visible and recurring revenue while improving customer loyalty.