Thanking our community for joining us on the journey — and a preview of what’s next.
Well, the last few weeks have been wild. The community doubled in size, we announced we stopped participating in the practice of Payment for Order Flow (PFOF), and today we have two major announcements to make.
Let us first say, we started this company with an ambitious mission: to open the stock market to everyone by changing its underlying culture. If you are a member of our community, you know that Public feels different. It’s a place that’s truly welcoming of all investors, no matter your background, experience level, or interests. It’s quite magical to witness, and we couldn’t be prouder of everyone participating, and the team that supports it.
One million members
Today, we’re excited to share a significant milestone on our journey: The Public community is now one million members strong.
With a lot of growth comes more responsibility. It’s something we don’t take lightly, and that’s why we’re happy to also announce that we’ve raised an additional $220 million in funding from our existing investors Accel, Greycroft, and Lakestar, as well as Intuition Capital, Tiger Global, The Chainsmokers’ Mantis VC, Will Smith’s Dreamers VC, Inspired Capital, Vine Capital, Aglaé Ventures, and YouTube legend Phil DeFranco. This money will go towards scaling our infrastructure to ensure everything stays stable and smooth for the next few million members to come. But it’s also going to help us accelerate new products and features many of you have been asking for.
This year, you will see features like crypto, pre- and post-market trading, as well as ways to set up recurring investments. But that’s just a tiny preview of what’s to come, and only the obvious requests you all have given us.
Access with responsibility
Interest in the stock market is at an all-time high, with topics previously isolated to Wall Street entering the cultural zeitgeist in ways never seen before. This movement has sparked curiosity among millions of people who, for the first time, are looking to learn more and participate themselves.
This curiosity is a net-positive force — and one that we believe requires education and guardrails to help the next generation of investors navigate the market in a responsible way.
We believe ownership trumps speculation. The Public community is about investing in companies, not just trading stocks. We believe that investing is one of the most powerful forcing functions for building financial literacy.
At Public, we don’t encourage day-trading, nor do we push margin credit on new investors. We also have built-in Safety Labels on potentially risky investments, and features like Long-Term Portfolio to help members consider the differences between long- and short-term investing strategies.
More recently, we made the decision to eliminate Payment for Order Flow (PFOF) from our business model so that we could better align our incentives with those of our members.
We try to lead with integrity, by ensuring that what we say is always aligned with what we do.
We look forward to working hard to bring you these new features and much more to support your commitment to learning and growing your knowledge of the stock market.
We’re so excited for what’s to come, and we always appreciate your thoughts and feedback (reach us at email@example.com or on Twitter). Thank you for being part of the first million people to share in our mission as we change the culture of investing, together.
Leif & Jannick
Co-CEOs of Public.com