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Public.com

Public.com

Public.com is a New York City and Copenhagen-based developer of an investing and social media platform which offers commission free investing with a social community around it.

Public.com is a developer of a social investing application designed to unlock greater access to the stock market for a broader audience of investors. Through their application, members can own fractional shares of stocks and exchange traded funds (ETFs). The company is a member of FINRA and SIPC.

Application

Besides allowing members to buy fractional shares, they can follow interest-based themes and learn from a community of subject-matter experts and friends without commission, enabling users to invest and earn without hassle.

This includes allowing members to follow others trade activity. This includes allowing users to make their transactions public to those following them, or keep them private. Users are also able to comment on transactions or through more direct communication through Public.com's application.

Fees

Any fees incurred through trading, for example management fees for some ETFs, are passed along to users accounts. Otherwise Public.com does not charge commission, except on trades placed through their customer support team for which they charge a $30 per trade fee. They charge small fees to cover their SEC sell trade fees, which cost a user $0.02 per $1000 worth of stock sold. And there is a Trading Activity Fee which is equivalent to $0.000119 per share.

Public.com has said they are developing their platform towards a place where they may begin to charge a subscription fee. Otherwise, Public.com works with APEX Clearing House which pays them for their business. Through APEX Clearing House, they engage in smart order routing through which Public.com and APEX Clearing House receive rebates on certain orders. They are required to always seek the best price for their users regardless of rebates.

Public.com also earns interest on uninvested cash balances at a rate of 0.2%.

Timeline

February 2021
Public.com raises a $1,200,000,000 series D round from Aglaé Ventures, Dreamers VC, Greycroft, Inspired Capital, Intuition Capital, Lakestar, Mantis VC, Philip DeFranco and Tiger Global Management.
December 15, 2020
Public.com raises a $65,000,000 series C round from Accel, Advancit Capital, Greycroft, Lakestar and Mantis VC.
March 3, 2020
Public.com raises $15 million with help of Will Smith and JJ Watt.
March 27, 2019
Public.com raises a Series A round led by Accel and Greycroft.
March 27, 2019
Public.com raises a $9,000,000 series A round from Advancit Capital and Greycroft.
September 18, 2018
Social investing app Public.com scores $2 million seed funding
September 18, 2018
Public.com raises a $2,000,000 seed round from Greycroft.

Funding Rounds

Patents

Further Resources

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References

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