Dec 26, 2023 - Business

Robinhood acquires Chartr as it expands media portfolio

Photo: Sherwood Media

Retail trading giant Robinhood has announced a deal to acquire U.K.-based Chartr Limited, a media company that specializes in data visualization and newsletters, to add to its in-house, independent media brand Sherwood Media.

Why it matters: The acquisition is intended to help Sherwood expand its editorial offerings as it gears up to launch a news hub early next year.

Catch up quick: Robinhood launched Sherwood Media as an independent business and finance media company earlier this year.

  • The outlet, which is led by veteran tech editor and media entrepreneur Joshua Topolsky, was set up as an independent LLC that exists as a subsidiary of Robinhood.
  • It focuses on delivering news, analysis and opinion for young, financial news consumers — an audience that aligns with Robinhood's retail trading user base.

Details: Chartr will remain its own stand-alone entity under Sherwood Media after the deal closes, and its branding will remain intact, per Topolsky, who serves as president and editor-in-chief of Sherwood.

  • Chartr's products focus on simplifying complicated topics with data visualizations that Sherwood plans to integrate into its content, including its daily financial newsletter, Snacks, its web products and its social media content.

Between the lines: Sherwood launched with a focus on newsletters but has since begun expanding into other platforms.

  • In June, the company said it planned to expand to events, podcasts and build out a print magazine. It hired a head of sales to begin its commercial expansion.
  • The firm makes money mostly by selling advertising. Its content isn't paywalled.

The big picture: More companies are investing in media as a customer acquisition tool, but it's unclear how financially successful those outlets can be when their ultimate purpose is to drive customers for their parent companies.

  • Asked about Sherwood Media's financials, including its revenue and profitability, Topolsky declined to share any details.
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