Robinhood Markets Signs Agreement To Acquire X1 For About $95M In Cash; X1's Co-Founders Deepak Rao & Siddharth Batra To Oversee The New Business For Co, With Rao Serving As Gm Of Credit Cards
Portfolio Pulse from Happy Mohamed
Robinhood Markets has signed an agreement to acquire X1 for approximately $95 million in cash. X1's co-founders Deepak Rao and Siddharth Batra will oversee the new business, with Rao serving as GM of Credit Cards.
June 22, 2023 | 1:58 pm
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Robinhood's acquisition of X1 for $95M in cash could expand its product offerings and potentially increase revenue.
The acquisition of X1 by Robinhood will allow the company to expand its product offerings, specifically in the credit card space. This could lead to increased revenue and growth for Robinhood, positively impacting its stock price in the short term.
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