The buzzy startups Robinhood and Cadre are known for different things.
Five-year-old Robinhood has established its reputation by offering commission-free stock trading, while three-year-old Cadre burst onto the scene with a real estate investing platform.
The founders of Cadre and Robinhood come from distinctly different places.
Perhaps it’s no wonder that Williams has stopped talking about Cadre as a real estate platform and now describes it instead as “The world’s first digital stock market for alternative assets.” With so many big brands backing it, what Cadre wants now is to “Unlock every single potential product in the portfolio of our users and give them true diversification, so they can build their own sort of customized portfolio across non-equity products.”
Robinhood has attracted four million users, but many of its newest customers gravitated to the platform for two products that are still being rolled out slowly.
Cadre and Robinhood share another trait, too: Neither company is willing to think about being acquired.
While banks are watching nimble players like Cadre and Robinhood with superstore ambitions, the bigger danger – if these startups don’t move fast enough – may be the ultimate superstore itself.