Robinhood parts ways with its first CPO Aparna Chennapragada

abdelaziz Fathi

In what apparently part of the restructuring it announced last month, Robinhood is parting ways with its Chief Product Officer Aparna Chennapragada. However, she’ll remain employed in an advisory role to the CEO through January 2023.

Aparna Chennapragada

The former Google executive had originally joined the no-fee brokerage firm back in March 2021. At the time, the millennium-geared app was not filling a vacant spot, as the tech veteran was the first CPO to be appointed to Robinhood.

“During the last 20 years, I’ve been lucky to serve and lead in companies with bold missions. Google, providing universal access to information and computing. Akamai, the world’s first internet content delivery network. Capital One, changing banking for good. I was drawn to Robinhood for its potential to democratize finance for all. And for the personal challenge to expand the co beyond trading into a broad set of products to make money work better for all. We made inroads toward this vision with products in spending and retirement,” Aparna said.

Before Robinhood, Chennapragada had been a leader at Google for nearly 13 years and served most recently as Vice President where she oversaw product management for new product areas in augmented reality. Prior to that, she was a senior director and Technical Assistant to Google CEO, tasked with various company-wide product efforts and strategic reviews.

Chennapragada kicked off her career with the internet giant back in 2008, having joined a team to develop algorithmic features for YouTube and Google News.

Besides her leading roles at Google, she served as a member of the Board of Directors of Capital One, which offers a broad spectrum of financial products and services.

Overall, Chennapragada has more than 23 years of experience across various industries, combined with a deep understanding of technology, information, artificial intelligence and customer experience.

Robinhood CEO Vlad Tenev revealed plans to let go nearly a quarter of its staff with employees from all departments will be impacted. The changes are particularly concentrated in the company’s operations, marketing, and program management functions

The layoffs came as Robinhood released its Q2 2022 earnings which saw total revenue of $318 million over the three months through June 2022, 44 percent lower than the same period in 2021.

Robinhood had initially planned to cut nearly 10 percent of its full-time staff, but CEO said this did not go far enough. The zero-fee app had staffed up assuming that the heightened interest in trading from retail investors after the meme-stock phenomenon would carry into 2022. This assumption has run into the headwinds of inflation and the crypto winter that are affecting activity at all retail platforms.

Read this next

Industry News

SEC charges ex-Morgan Stanley advisor for defrauding NBA players $13 million

Darryl Matthew Cohen was arrested this week and is facing three different federal counts of fraud, which could amount to 20 years in prison if convicted, besides the SEC complaint. 

Industry News

AWS FinTech Africa Accelerator launched, applications until April 27, 2023

Founders will be offered tech resources, expert guidance, and a global network of industry leaders, technologists, entrepreneurs, investors, associations, and partners, in order to build their fintech products. 

Industry News

Interactive Brokers pays unmatched interest up to USD 4.33% on cash balances over $10,000

For clients of Interactive Brokers, interest accrues daily, and payments are posted on a monthly basis. Interactive Brokers’ cash management is integrated into client broker accounts, making it simple to earn interest and borrow at the lowest rates without transferring cash.

Retail FX

FP Markets adds cTrader to roster of trading platforms that include MT4, MT5, Iress

“Our market share swings towards the more sophisticated segment of traders and we have been inundated with requests for an additional platform with more institutional-style characteristics. The addition of the cTrader trading platform offering allows our clients the choice to further shape their trading experience with us.”

Digital Assets

SEC mulls lawsuit against Coinbase’s staking and spot trading

Shares in Coinbase fell 15 percent after the US Securities and Exchange Commission threatened a potential enforcement action against the crypto exchange over certain products.

Digital Assets

Kraken halts ACH transactions amid banking crisis

San Francisco-based cryptocurrency exchange Kraken says it will no longer process Automated Clearing House (ACH) following the failure of its payments partner, Silvergate Bank.

Digital Assets

French influencers face two years in jail for promoting crypto products

France’s National Assembly’s Economics Committee voted in favor of a law that bans social media influencers from touting risky financial services, including cryptocurrencies.


Exberry’s Guy Melamed on paradigm shift with cloud-native exchanges at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Guy Melamed about Exberry’s cloud-native exchange SaaS platform certified by AWS to bring about a paradigm shift in the industry at a time of cybersecurity concerns.

Retail FX

Playtech revenue grows to €1.60 billion in 2022

Playtech plc (LSE: PTEC) reported solid financial results for the fiscal year 2022 as B2B growth and Snaitech’s record performance pushed it towards large gains in revenue and net profit.