Robinhood Is Quietly Building 13 Businesses at Once. Here's Why It Matters.

Robinhood Markets (NASDAQ: HOOD) started with a simple idea: Make it easier for ordinary people to invest. That sounds like a single business. But it isn't anymore. By the second quarter of 2026, Robinhood had 13 business lines generating at least $100 million of annualized revenue. That's up from just one in 2019 and nine in 2024. At first, this might look like another impressive growth statistic. But digging deeper, I think it tells us something more important -- that Robinhood is getting better at turning one customer relationship into multiple sources of revenue.

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