Robinhood buys platform for investor–company communications for $140 million

Online broker Robinhood приобрел Say Technologies for $140 million. This marked the company’s first major acquisition since its initial public offering (IPO) in July.

The service helps investors establish communication with the companies whose shares they purchase. Users of the Say Technologies platform can also vote at shareholder meetings by proxy.

As part of the deal, the company will provide its platform to Robinhood’s clients.

On July 29, Robinhood held an IPO on Nasdaq. On August 4, the U.S. exchange halted trading in the company’s securities due to high volatility.

Robinhood chief Vlad Tenev said that the online broker will broaden its offering in the digital asset space, as it regards cryptocurrencies as a cornerstone of its future development.

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