Introducing Matador: a new way to grow your money by exploring, sharing, and discovering the stock market with your friends.
Over the past year, we’ve been building a better way for young Americans to grow their money. And today we’re pulling back the curtain on Matador, making it available to the general public, and announcing nearly $9M in early financing led by Accel and Greycroft.
There are probably few things in life more important than creating and growing our personal prosperity. And there are even fewer ways to achieve that than investing in the stock market. Name one other asset class that has grown an average of almost 10% per year over the last 100 years. We can’t.
But young people are barely, if at all, “in” the stock market. Despite the fact that it’s, hands-down, one of THE best ways to build wealth over time, we invest less than a third of what we have in stocks. Compared to the generations before us, this is paltry. Each of us is losing potentially millions of dollars over our lifetime because we don’t know how to get started (either from fear or complexity or both).
This is the real problem that keeps us up at night.
Breaking taboos and the negative cycle
Talking about this stuff has always been somewhat of a taboo. But like so many other areas of our lives, that’s changing. We are now more empowered than ever to share, learn, and do (thanks, Internet). Most of us are more willing than any other generation to talk with others about things like salary, investments, or even debt. We’re connected to friends and communities for just about everything — and are sharing and learning from each other’s experiences. Whether it’s with a close group of friends or as part of a larger group of people — even offline strangers — there are places where communities form around all of life’s most important aspects: mental health, travel, careers.
Except when it comes to money. Even with taboos melting away, embarking upon your financial journey is still a solo act. It’s a new world that many of us are left to experience on our own, in isolation. That’s what makes growing your money in the stock market seem like a such a scary thought. There is no great app for exploring, sharing and uncovering what, when, and why people are investing in the stock market.
That seemed crazy to us, so we built it ourselves.
Building the future of inclusive, empowered investing
Our team grew up in the shadow of the financial crisis, and just like many of the early members of the Matador community, we all began our careers in the uncertainty and fear it created. If financial services and systems seemed elite and complex before the financial crisis, the Great Recession only made it feel even more scary and elusive.
Some of us got early jobs in the industry and had the initial privilege of understanding how things worked. Instead of exploring the markets solo, we found ourselves texting with our friends a lot about stock and fund ideas (well, the ones that we could afford), and the early idea for Matador was born. So it wasn’t that there was a big taboo, it was that every app for investing was still an isolating experience. We wondered: what if everyone had a place to explore, share, and discover the stock market together? They’d all be more empowered to get going. More people would feel included and like it’s something they can do.
This stuff shouldn’t be something reserved for the 1%. It should be something that everyone, especially in an increasingly and beautifully diverse America, can participate in. And when you bring the power of exploring, sharing, and discovering to the equation, more people can get growing sooner.
This is what we’re unveiling today: a simple place to grow your money by exploring, sharing, and discovering the stock market with your friends. We’ve completely redesigned the early app based on detailed customer feedback. We’ve also baked in 2.5% interest on all cash inside the app up to $10,000. But this is just the beginning of an ambitious roadmap to bring inclusiveness, empowerment, and — along the way — more transparency to the way people can invest and grow their money. We can’t wait to hear what you think, and if you’re interested in working on this mission with us, we’re hiring!