Fumi Technology
Fumi Technology

Fumi Technology

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Webull Financial LLC offers an electronic trading platform, accessible via mobile app and desktop computer, for the commission-free trading of stocks, exchange traded funds, options, margins, and cryptocurrencies.

Webull is owned by Fumi Technology, a Chinese holding company that has received backing from Xiaomi, Shunwei Capital, and other private equity investors in China.

On May 24, 2017, Webull Financial LLC was established as a Delaware limited liability company by Wang Anquan, a former employee of Alibaba Group.

On May 30, 2018, the company released its mobile app for iOS and Android.

In May 2020, it received SEC approval to launch a robo-advisor.

By August 2020, it had over 11 million registered users.

In October 2020, it had 750,000 daily active users.

In November 2020, Webull began supporting cryptocurrency transactions.

On January 28, 2021, Webull halted buy orders for stocks affected by the GameStop short squeeze, but reversed course and allowed buy orders starting at 2:35pm that day. On that day, Webull recorded its highest ever number of active daily users at 952,000. That week, approximately 1.2 million people downloaded the Webull mobile app.

In June 2021, Webull began talks of an initial public offering, with considered valuations of $400 million.

In September 2021, The Brooklyn Nets and New York Liberty have entered into a global multi-year agreement with Webull. Webull Corporation, Webull's parent company, will leverage the international rights to expand their global reach.Terms of the agreement for the jersey patch weren't announced, but people familiar with the agreement told CNBC it's a multiyear pact that pays the Nets roughly $30 million per year.