Stock trading app Robinhood has agreed a $140 million cash deal to buy investor communications firm Say Technologies.
Say’s proxy processing technology helps broker-dealers give their customers access to their vote, while a Q&A platform lets everyday shareholders participate in events like earnings by asking and upvoting questions.
In a blog, Robinhood chief product officer Aparna Chennapragrada says the deal brings together two firms "built on the belief that everyone should have the same access to the financial markets as Wall Street insiders".
The acquisition comes two weeks after Robinhood went public. The app's share dipped by nearly five percentage points on the news to around $55.