Date Betterment launched: May 24, 2010
Year Betterment created its first mobile app: 2012
Number of customers using Betterment on May 26, 2015: 90,183
Average length of time it takes to open a checking account at a large bank: 1 to 2 business days
Length of time it takes to open and fund a Betterment account: 5 minutes
Average amount of time a person spends on an iPhone each day: 160 minutes
State with the most Betterment customers: California
Percentage of customers older than 40: 25%
Smallest fractional share Betterment trades for every customer: 1/1,000,000
Average stock allocation across all portfolios held at Betterment: 70%
Cumulative return on a bought-and-held 70% stock portfolio from May 2010 to May 2015: 61.7%¹
Growth in Betterment’s code base over the past year: 97%
Number of lines of code added in the past year: 545,287
Number of automated tests run after every new feature is added or bug is fixed: 6,757
Total number of employees at Betterment: 94
Percentage of company who are engineers: 40%
Pounds of coffee consumed every week by Betterment staff: 10
Number of Betterment dogs who regularly visit the office: 7
Number of Betterment cats who have visited the office: 0
Percentage of Betterment employees who speak with our customers on the phone: 100%
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¹Time period of return is the 5 years since Betterment’s inception in May 2010. For a full analysis and additional disclosures, please see: https://www.betterment.com/returns-calculation/. For additional information on this return calculation, and to explore Betterment’s historical performance and to compare portfolios, please see: https://www.betterment.com/resources/investment-strategy/betterment-historical-performance/
Jon Stein on “How I Built This:” Reflecting on Our Story
Jon Stein joins NPR’s Guy Raz for an episode of “How I Built This” to look back at how Betterment started, what mistakes were made, and how they turned into learnings for the robo-advisor we are today.
The History of Betterment: How We Started a Company That Changed an Industry
We launched in 2010. Today, with billions under management and hundreds of thousands of happy customers, Betterment is the largest independent robo-advisor.
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