That headline probably won’t make a lick of sense unless you know either of the players, so here goes: Robinhood is a financial services app that aims at serving millennials looking to invest in the stock market, while Market Snack is a newsletter-driven financial news and information company that… similarly aims at serving those pesky millennials. I mentioned them very briefly last summer within the context of a column about daily news podcasts, because they also publish a daily financial news podcast that builds upon the work they do on the newsletter.
The newsletter will re-brand to “Robinhood Snacks” and the podcast to “Snacks Daily” with exposure to the company’s existing user base of more than 6 million users as well as the general public. MarketSnacks co-founders Nick Martell and Jack Kramer will join Robinhood as managing editors of news and continue to produce the daily news offerings… Robinhood declined to disclose the terms of the deal and did not provide growth metrics for the newsletter. MarketSnacks had “tens of thousands of subscribers” two years ago when I last interviewed the founders.
It’s an outcome that makes a ton of sense for the newsletter-podcast company, I think. Two things to mull over:
- All the classic “what happens when a technology company owns/manages/publishes a media company???” questions that go along with an arrangement like this… which is to say, this isn’t unprecedented, but can still get pretty sticky here and there.
- For now, neither the newsletter nor the podcast are integrated to the Robinhood app in any way. That might change at some point, in which case, could be pretty cool to see the financial services and information app natively facilitate the podcast’s distribution.