Social Investing App Public.com Secures Seven Figure Investment From Business Professor and Entrepreneur Scott Galloway
Fast-growing brokerage app and community adds Galloway to list of backers committed to changing the culture of investing(Public.com )
Public.com, the social investing app backed by Will Smith’s Dreamers VC, NFL star J.J. Watt, bestselling author Sophia Amoruso, and the original investors in Venmo, announced that business professor and entrepreneur Scott Galloway has made a strategic, seven-figure investment in the company.
“Financial literacy grows through the exchange of ideas and information about business strategy. I believe the diverse community that Public is building and focuses on investing vs. gambling creates a healthier ecosystem.”
Galloway has been outspoken with his views on the democratization of investing, calling for modern platforms to build responsibly and provide guardrails to protect new investors as they grow their financial literacy. His investment in Public signals his desire to be a part of the solution as America’s investing class continues to widen.
“The surge of interest in the stock market is a net positive for our economy and our society,” said Scott Galloway, Professor of Marketing at NYU Stern and investor in Public. “Financial literacy grows through the exchange of ideas and information about business strategy. I believe the diverse community that Public is building and focuses on investing vs. gambling creates a healthier ecosystem.”
Public is a community-based investing app that allows investors of all backgrounds to exchange ideas and talk about business and financial news productively. In addition to offering fractional shares and an intuitive interface, Public incorporates educational features and guardrails designed to provide context as people become more confident in their investing journeys. For example, Public includes Safety Labels for stocks deemed potentially risky by the SEC. In June 2020, Public temporarily removed the ability to buy Hertz stock on its platform in response to the company’s unprecedented move to issue more stock to retail investors despite declaring bankruptcy.