Noah Kerner, the CEO of micro-investing mobile app Acorns, joined CNBC’s Squawk on the Street on Tuesday to discuss the Acorns platform, along with the importance of diversification during the latest retail trading surge.
During his interview, Kerner revealed that the Acorns platform has almost reached more than nine million accounts. He further explained that last week’s retail surge, the Acorns platform saw new user accounts double.
“Acorns DOES NOT offer trading, we offer diversified portfolios of thousands of stocks and bonds. We try to encourage people to not think short. but think longer term to own part of the ‘entire American economy.’”
See Kerner’s interview below.
As previously reported, Acorns’ proprietary financial engine allows customers to roundup square change from everyday purchases and invests into professionally managed index funds portfolios.
“Simply connect any credit or debit card and a checking account, then spend money like you normally do to watch your portfolio grow with the market. It’s easy to get started when you can invest any amount, any time with no commissions or minimums.”
Acorns has attracted funding from various A-Listers, including Jennifer Lopez, Alex Rodriguez, Ashton Kutcher, Bono, and Kevin Durand. NBCUniversal and Comcast Ventures, the venture capital arm of NBCUniversal’s parent company, Comcast Corporation, have reportedly made an equity investment in Acorns as well.