Say Technologies

Say Technologies operates as a shareholder communication platform with the goal of democratizing investor access and influence. Founded in 2017 by Alexander Lebow, Jeff Cruttenden, Julio Fredes, Noah Kerner, and Zachary Hascoe, the New York-based firm was established to give retail investors a more substantial voice. The founding team brought a diverse set of experiences to the venture. Alex Lebow's background as a lawyer specializing in M&A transactions gave him direct insight into the shortcomings of the traditional shareholder communications industry. Jeff Cruttenden and Noah Kerner were also co-founders of Acorns, a micro-investing application, bringing deep experience in the fintech space and a focus on making financial markets more accessible.

The company's core business revolves around providing technology that facilitates communication between individual shareholders and the companies they invest in. Its primary clients are broker-dealers who integrate Say's technology to offer enhanced services to their retail customers. The business model centers on handling proxy voting processes for these broker-dealers and offering a Q&A platform for corporate events like earnings calls. This allows individual investors, who collectively own a significant portion of the U.S. stock market, to ask and upvote questions, ensuring that management addresses the topics most important to this shareholder base. One of its high-profile successes involved submitting questions on behalf of a large group of Tesla shareholders, which were then answered by the company's CEO during an earnings call.

Say Technologies' main service is a communication platform that streamlines proxy voting and shareholder engagement. A key feature is its Q&A platform, which allows authenticated shareholders to submit and collectively upvote questions ahead of corporate events. This creates a more direct and democratic channel for communication, moving beyond the traditional, often opaque, annual meeting format. For broker-dealers, Say provides the underlying proxy processing technology to give their customers seamless access to voting. In August 2021, the company's trajectory culminated in its acquisition by Robinhood for approximately $140 million in an all-cash deal. This acquisition was a strategic move for Robinhood to integrate Say's tools and further its own mission of breaking down barriers for everyday investors participating in financial systems. Keywords: shareholder engagement, proxy voting, investor relations, retail investors, fintech, shareholder communication, corporate governance, Q&A platform, investor access, financial technology