Details
Written by: RJ
Robinhood has agreed to purchase X1 for $95 million in an all cash deal. The deal is expected to close sometime in Q3 2023.
The X1 cofounders will head the new credit card division of Robinhood.
First reported by Tech Crunch
Thoughts
Interesting. It was assumed that Robinhood would get into the card space. We’ve seen other brokerages like M1 Finance do similar. It’ll also be interesting to see what they do with the brand.
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Usually say X1 sound like an Xfinity Comcast product.