Trading app Robinhood is establishing an independent media unit named Sherwood, which will focus on topics such as money, technology, and geopolitics through newsletters, a website, and live events.
The initiative is being led by Joshua Topolsky, who previously served as editor-in-chief of the tech news site The Verge and was the chief digital officer at Bloomberg Media. Robinhood currently offers a daily markets newsletter called Snacks, which boasts millions of subscribers. This newsletter will transition to the new Sherwood venture, which aims to expand its content offerings to include video and podcasts.
Topolsky shared with Axios, “It’s a significant, long-term investment,” revealing plans to recruit dozens of reporters, editors, and social media content creators within the year. Unlike Snacks, which was not monetized, Sherwood will seek to generate revenue through advertising.
He emphasized, “The next generation looks at money and the markets through an entirely new lens; they live at a different speed and seek something more substantial in their media consumption.” Topolsky expressed enthusiasm about building a news organization tailored for the evolving landscape of information consumption.