We’re closing the doors of our investment trading platform

Apr 11, 2023
It is with deep sadness that we have made the decision to start the process of shutting down our Tulipshare Service which allows users to buy and sell securities on our mobile application in the UK.

We have provided some further information on what this means for Customers below.

The decision wasn’t an easy one to make, but here’s what led to it…

Tulipshare was founded in 2020 with the mission of unifying the shareholder rights of all investors to promote ethical change at some of the largest household names in the world. In July 2021, Tulipshare launched as the first broker to combine shareholder activism with online brokerage. Within two years, Tulipshare developed over 50 campaigns seeking to engage with companies to shift a greater focus on society and our planet. To date, the Tulipshare community has been successful in influencing Johnson & Johnson to remove talc-based baby powder off the shelves globally, Apple to commit to providing greater transparency reporting, and Salesforce to commit to conducting a 3rd party racial equity audit.

Unfortunately, there have been dramatic changes to our economic environment, and the appetite for investing in startups has declined. Whilst Tulipshare as a company still has a long runway in place to continue our mission of engaging with public companies and prioritising sustainability in the boardroom, the cost of maintaining our broker-dealer activity is too great.

What does this mean for Tulipshare customers in the UK?

As of Wednesday 12th of April 2023, Customers will no longer be able to:

  • Deposit new funds into their accounts;
  • Convert existing unused sterling balances into dollars; and
  • Purchase securities.

This will be effective on the Tulipshare website as well as on iOS and Android app.

What can Tulipshare Customers continue to do?

You will continue to be able to:

  • Sell shares you currently own
  • Withdraw funds

What fees will apply to Tulipshare Customers?

As of today, Tulipshare will waive all fees in connection with the selling of shares and the withdrawal of funds.

What if a Tulipshare Customer has used a promotion?

We will waive all clawback provisions on all registration incentives promotions which are the following:

  • Deposit at least £1 and get £10
  • Invest in 3 more campaigns after your first trade and get £20
  • Earn up to £10 for each friend invited

When will further information be available?

We plan to send you more information regarding account closing, withdrawals, and selling timelines by Friday 26th April.

What does this mean for Tulipshare as a company?

We are committed to continuing our mission of uniting the global shareholder power of investors to drive positive ethical change at some of the largest companies in the world.

Closing remarks

We are extremely appreciative of the support we have had from everyone: users, investors, and employees, and hope you will continue to follow us along by pledging your shares as we seek to push companies on a path towards a better world.

If you have any questions or concerns, please do not hesitate to reach out to support@tulipshare.com or by messaging us directly with the app.

Thank you.
Antoine Argouges, Founder & CEO of Tulipshare

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