In an investor presentation last month, the company said it was expecting $390.2 million in 2024 revenue, which would be roughly flat from 2023.
Former Alibaba and Xiaomi manager Wang Anquan founded Webull in 2016, and he remains the company's global CEO. Investors include Coatue, General Atlantic and Lightspeed. The app gained popularity during the Covid pandemic, as U.S. citizens used stimulus checks to invest, Anthony Denier, the company's group president and U.S. CEO, told CNBC in 2021. Webull users are "much more intellectual" than Robinhood's, Denier has said.
In November, the U.S. House Select Committee on the Chinese Communist Party sent a letter to Denier inquiring about the company's ties to China. The company didn't immediately respond to a request for comment.