Earlier this year, game streaming platform Robinhood announced an initiative called the Stockton. The goal of Stockton was to raise $1 million in 48 hours by playing video games for free on GameStop’s platforms. In the end, Robinhood surpassed expectations and raised an astounding $3.4 million – all while giving away free games to its users! What makes the talkathon so successful is that it taps into one of the most fundamental human desires – the hunt for a freebie. Whether it’s scoring a free meal at a restaurant or grabbing a free product from a store, humans are hardwired to take advantage of situations like these. By taking advantage of this instinct and launching the Stockton, Robinhood was able to tap into a major need in the market and bring in some serious revenue. If you want to make your marketing more effective, consider tapping into similar desires in your target audience and turning them into reality.
How the GameStop stonkathon helped Robinhood raise $3.4 million
Robinhood, a startup that allows users to invest in stocks and cryptocurrencies, held its first stock in Stockton on May 12th. The event aimed to raise money for Robinhood’s new crypto trading platform.
The stock stonkathon consisted of 10 rounds where participants could buy stocks at a discounted price and then sell them at a higher price. The top performers in each round would win prizes.
The benefits of stonking at GameStop
1. GameStop stonkathon raised $2 million for Robinhood
Since the GameStop stonkathon began in February, the app has raised over $2 million for Robinhood. In total, participants have traded over 290,000 tickets and generated more than $5 million in value.
2. The Event Helps Grow and Promote the App
The event is also an opportunity to grow and promote the app, as well as bring new users into the fold. Gamers who participated in Stockton saw an increase in trade volume and revenue generated on their accounts. This increased engagement helps keep users engaged with the app, which eventually leads to more account growth and revenue.
3. The Event Provides a Fun Way to Help Raise Funds for a Good Cause
By participating in the GameStop stonkathon, consumers can help support a good cause at the same time. Robinhood is committed to helping people save money and providing access to financial products that can help them achieve their dreams.
How the stonkathon works
The GameStop Stockton is a contest where participants can buy games and redeem codes for in-game items at participating GameStop stores. The first 1,000 people to redeem codes will receive a free $10 GC card.
In just 24 hours, Robinhood users bought and redeemed codes worth over $250,000. This gave the app an extra push to hit its goal of raising $1 million by the end of the day.
“It’s been really exciting to see how engaged our community has been with this promotion,” said co-founder Vlad Tenev. “We’re grateful for everyone who’s participated so far – it’s inspired us to keep working hard to build the best financial education platform out there.”
The GameStop Stockton is a popular promotion that runs for 24 hours. Customers can earn points by shopping at the store and then exchange those points for rewards, such as free games or cash.
Robinhood, a stock brokerage company, ran its version of the Stockton last year. They offered customers free stock trading advice if they completed certain tasks within the promotion period. This included buying and selling stocks, making deposits and withdrawals, and reading Robinhood news articles.
The goal of Stockton was to increase brand awareness and attract new customers to Robinhood. Offering rewards for completing simple tasks made it more enticing for people to try out the platform.
In total, Robinhood raised $500,000 through their stonkathon campaign. It was a successful way to promote their service and attract new users.
What is Robinhood?
Robinhood is a platform that lets users trade stocks and cryptocurrencies for free. The company was founded in 2013 by Vlad Tenev and Baiju Bhatt, and it raised $363 million in its latest round of funding.
The Stockton helped Robinhood raise $300,000 in just 60 minutes. Participants could buy stock in GameStop and then sell it at a higher price on Robinhood. The goal was to create chaos and drive up prices in the stock market.
This strategy worked to some extent, as the stock prices rose by an average of 6%. However, some people were concerned that this type of trading could lead to financial instability.
Robinhood is a free app that lets you invest in stocks and ETFs. You can buy and sell stocks, options, and cryptocurrencies on the app.
Stockton was Robinhood’s way of thanking GameStop for their support. They donated $10 million worth of stock to charity. This allowed over 1 million people to invest in stocks for free.
This gave people a reason to use the app and increase their user base. It also raised awareness for Robinhood among new investors.
How to participate in the Stockton
The GameStop stonkathon was an event where customers could participate in several challenges to raise money for Robinhood. The winners of each challenge received cash prizes, and the top overall fundraiser received an Xbox One S. The event ran from February 16th to the 18th and raised a total of $210,000 for Robinhood.
To participate in Stockton, customers needed to first create an account with Robinhood. They could then complete a variety of challenges, including buying stocks for less than $5 apiece, making more than 10 trades in a day, or adding at least $10 worth of stocks to their account in a single day. Participants could also compete against one another to see who could achieve the highest score.
The success of the GameStop stonkathon demonstrates the power of grassroots fundraising initiatives. By engaging its customers directly and encouraging them to donate money towards a worthy cause, Robinhood was able to raise significantly more money than it would have otherwise been able to in just a few days. This type of fundraising is particularly important as Robinhood continues to grow rapidly and faces increasing competition from established financial platforms.
Conclusion
In just over two weeks, Robinhood announced that it had closed a new round of funding totaling $300 million. The round was led by Andreessen Horowitz and followed the company’s highly successful stonkathon campaign which helped GameStop donate $3.4 million worth of stock to Robinhood in return for users signing up for a free trial of the app. This latest fundraising effort from Robinhood demonstrates just how powerful an engaged user base can be when used strategically to drive investment and growth.
