Analysts link Robinhood’s Say Technologies deal to Acorns through shared founder Jeff Cruttenden. Cruttenden co-founded Acorns before co-founding Say Technologies, connecting the companies through Say.
Robinhood buys Say Technologies for $140 million, adding Reddit-like shareholder chat and proxy-voting software to its business. The acquisition signals a shift toward shareholder engagement and a business model the headline describes as “social media capital.”
Robinhood agrees to acquire investment communications platform Say Technologies for about $140 million in an all-cash deal. Say’s proxy-processing technology gives broker-dealers a way to provide customers access to voting, while its Q&A portal lets shareholders ask and upvote questions at events such as earnings. Co-founder and CEO Alex Lebow says the deal advances Say’s goal of creating an ecosystem for ownership and engagement.
