Knobbe Martens Assists Say Technologies in Its Acquisition by Robinhood
A team of Knobbe Martens lawyers played a pivotal role assisting fintech startup client Say Technologies prior to and during its August 10, 2021, acquisition by Robinhood Markets for $140 million, successfully representing Say in the intellectual property due diligence necessary to close the deal. Before the acquisition, Say was valued at $28 million, realizing a 5x return on investment due to, among other things, the strength of the company’s intellectual property, including patents, trade secrets, trademarks and its domain name that Knobbe Martens helped protect.
“We are delighted for our client and proud of its success,” said Knobbe Martens partner Susan Natland, one of the lead attorneys working on the deal for Say Technologies. “We’ve had the pleasure of working alongside Say, participating in its growth and then helping to elevate the company into its next phase. To support a client realizing its potential brings us great satisfaction.”
Robinhood, which pioneered commission-free stock trading and investing through a mobile app, and Say Technologies, which created a groundbreaking communications platform to connect public companies with shareholders, investors and broker-dealers, share a core belief that investing on Wall Street should be easy and accessible to everyone. Say Technologies was Robinhood’s first acquisition since going public and only the third in the company’s history.
The Knobbe Martens legal team representing Say included Susan Natland, Tom Yee, Lincoln Essig, Jessica Sganga, and Zach Hong. Knobbe Martens has a well-established fintech industry practice.