According to InvestorPlace, the stock trading app Robinhood is working with Goldman Sachs to prepare for their IPO. Launched in 2014 by Baiju Bhatt and Vlad Tenev, the app became a huge success. Some sources such as Reuters estimate their valuation to be over $20 billion!
Since the start of the pandemic, millennials and amateur traders have been using Robinhood to enter the financial markets. By having almost no entry barrier and a very simple to use interface, it is no surprise that Robinhood managed to turn many people into traders. With our Market Intelligence tool, we can clearly see that the estimated monthly users of Robinhood have increased significantly during Covid-19.
Robinhood is also lucky to have a “self-propelled” advertising scheme. Many YouTubers are using the app’s name in their titles in order to capture the attention of rookie traders. Videos titled “How to earn money with Robinhood” or “How I made X Dollars in one day with Robinhood” are plenty on the video platform. This increases brand name popularity significantly. The ASO health of the app also benefits from this. MobileAction’s ASO Intelligence tool clearly shows the organic strength of the app.
With a visibility score of 90, the app is very easy to come across in the App Stores. The shape of the ranking distribution chart captures our attention. What we are used to is a graph that is skewed towards the bottom. Usually, apps have a lower number of high-ranking keywords, and the number of keywords increases as rankings go down.
In Robinhood’s distribution chart, we can see that the app is incredibly ranking first for 409 keywords! No wonder their visibility score is so high.
When we take a quick look at the Keyword Intelligence of Robinhood, we can see the words that are responsible for the organic downloads of the app. Following their brand name, we can see the brand keywords for close competitors. The app also ranks on generic keywords such as “investing” which are related to the category. By ranking 1st on hundreds of these keywords, it has managed to increase its downloads and obviously its revenue.
As they say in trading, buy the rumor, sell the fact. With recent claims of an approaching IPO, a quick look into the app was necessary. If the rumors turn out to be true, perhaps a detailed ASO analysis of Robinhood can provide a better understanding of their success. If you want to draw your own ASO insights from the strategies of these apps, you can sign up here for free. We wish the best of trades to you!
