Public.com launched in 2019 as a commission-free brokerage with a social twist. Jannick Malling and Leif Abraham built the platform around the idea that investing works better when it’s transparent and community-driven, rather than isolating.
The app started by letting users follow other investors, share their portfolios, and discuss trades in a social feed. Unlike Robinhood, Public.com made a deliberate decision not to sell order flow to market makers — they route orders directly to exchanges. This was a significant differentiator after the GameStop controversy put payment for order flow under a microscope.
Public.com expanded aggressively beyond stocks. The platform now offers Treasury bills yielding competitive rates, a high-yield cash account, crypto trading, and an alternative assets marketplace that includes fine art, collectibles, and royalties. Bond Account lets users buy individual corporate and government bonds, a rarity among consumer brokerages.
Alpha is Public.com’s AI investment research assistant, built on large language models. It can analyze a company’s financials, compare stocks, explain earnings reports, and surface data that would normally require a Bloomberg terminal or equity research subscription. It’s one of the more ambitious AI integrations in consumer finance.
The company has raised over $300 million from investors including Accel, Tiger Global, and celebrities like Will Smith. Public.com doesn’t disclose exact user numbers but has millions of accounts. The revenue model shifted from optional tipping to a combination of interest income, premium subscriptions, and crypto fees.
