News, Vision & Voice for the Advisory Community


Robinhood tilts business model toward 'social media capital' with purchase of Say Technologies, which has a Reddit-like chat function and proxy software to execute rebellions

The Menlo Park, Calif.-based broker phenom's $140-million purchase of the NYC-based startup gets young investors to collaborate in chat, show up with questions in Fortune 5000 c-suites and use proxies -- and even class-action suits -- like pitchforks

Author Brooke Southall August 13, 2021 at 1:41 AM
1 Comment
no description available
Alex Lebow (to right of fellow co-founder, Julio Fredes) : As part of the Robinhood family, we’ll be able to further our goal of creating a new ecosystem of ownership and engagement to benefit all investors and companies.


Brian Murphy

Brian Murphy

August 13, 2021 — 4:18 AM
Thinking deeper about the Say acquisition and Robinhood's business model of payment for order flow, might hedge funds (and other institutional investors) also be fond of receiving information on Robinhood investor sentiment BEFORE trades are even made - from the AI surrounding community chats? My guess is that revenue stream would more than offset the purchase price of Say within a couple of years...just speculation on my part but completely doable - and if disclosed properly probably within the realm of regulations... Cheers.

Related Moves

March 29, 2024 at 5:02 AM

Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff

Alan Moore replaces himself with another guy with two respectable titles • eMoney promotes two • Moisand's third in line now known • Robinhood sacks 173 in year-to-date.

July 26, 2023 at 2:34 AM

Robinhood shares spike 25% after CEO Vlad Tenev finally goes back on the attack against Acorns, Fidelity, and Schwabitrade by adding their tricks and features to its quiver

Semi-commoditized by giants and upstarts alike, the Menlo Park, Calif. firm is extending trading hours and doing its own Acorns-style round-up debit card to show it's in the fight.

March 29, 2022 at 7:19 PM

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 at 10:33 PM

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.