A Brief History of Alight, Inc. (ALIT)

Alight, Inc. is a leading provider of cloud-based human resource and financial solutions. The company has a rich history that dates back to its founding in 2017.

• 2017: Alight, Inc. was founded as a spin-off from Aon Hewitt, a global human resources consulting and outsourcing company. The company was established with the vision of helping organizations improve employee engagement and financial management through innovative technology solutions.
• 2018: In its first year of operation, Alight, Inc. focused on expanding its suite of cloud-based software offerings for HR and financial management. The company quickly gained traction in the market and attracted several high-profile clients.
• 2019: Alight, Inc. continued to grow rapidly and expanded its presence in international markets. The company also made strategic acquisitions to enhance its capabilities in areas such as data analytics and artificial intelligence.
• 2020: Despite the challenges brought about by the COVID-19 pandemic, Alight, Inc. remained resilient and continued to support its clients with innovative digital solutions for remote work and employee well-being. The company's commitment to customer success and technological innovation further solidified its position as a market leader.
• 2021: Alight, Inc. went public on the New York Stock Exchange under the ticker symbol ALIT. The successful IPO marked a significant milestone in the company's journey and provided capital for further growth and expansion.

Who Owns Alight, Inc. (ALIT)

Alight, Inc. (ALIT) is a privately held company, owned by Blackstone Group Inc. Blackstone is one of the world's leading investment firms, with a focus on private equity, real estate, credit, and hedge fund investment strategies. The company was founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson.

Blackstone acquired Alight in 2020 in a deal valued at approximately $7.3 billion. The acquisition was part of Blackstone's strategy to expand its presence in the technology and software industry and increase its portfolio of companies offering human resources and financial services.

As a result of the acquisition, Alight operates as an independent company under the ownership of Blackstone. The management team of Alight remains in place, led by CEO, Stephan Scholl.

• Ownership: Blackstone Group Inc.
• Founded: 1985
• Acquisition of Alight: 2020
• CEO of Alight: Stephan Scholl

Alight, Inc. (ALIT) Mission Statement

At Alight, Inc., our mission is to empower people and organizations to achieve their dreams through personalized financial wellness solutions. We believe that by providing individuals with the tools and resources they need to make informed financial decisions, we can help them create a better future for themselves and their families.

Our commitment to innovation and excellence drives everything we do. We strive to deliver cutting-edge technology that simplifies the complexities of financial planning and enables our clients to take control of their financial well-being.

• Personalization: We understand that each individual has unique financial goals and challenges. That's why we provide personalized solutions that meet the specific needs of our clients.
• Education: We believe that knowledge is power. Through educational resources and tools, we empower our clients to make informed decisions about their finances.
• Empowerment: By giving individuals the tools they need to manage their finances effectively, we enable them to take charge of their financial futures and achieve their goals.

How Alight, Inc. (ALIT) Works

Alight, Inc. (ALIT) is a technology company that specializes in providing cloud-based human resource solutions to organizations around the world. The company offers a range of services to help businesses manage their HR needs efficiently and effectively.

• Cloud-Based Solutions: Alight's primary offering is its cloud-based HR software, which allows businesses to streamline their HR processes and make data-driven decisions. This software can handle tasks such as payroll processing, benefits administration, and talent management.
• Consulting Services: In addition to its software solutions, Alight also provides consulting services to help businesses optimize their HR strategies. This can include everything from performance management to employee engagement.
• Benefits Administration: One of Alight's key services is benefits administration, which helps companies manage their employee benefits programs more efficiently. This can include health insurance, retirement plans, and wellness programs.
• Analytics and Reporting: Alight also offers robust analytics and reporting tools to help businesses track key HR metrics and make informed decisions. This can include data on employee turnover, compensation trends, and workforce demographics.

How Alight, Inc. (ALIT) Makes Money

Alight, Inc. (ALIT) is a company that provides cloud-based human resource solutions to businesses around the world. The company generates revenue through various means, including:

• Subscription Services: Alight offers subscription-based services to businesses for its software platforms. These services include tools for benefits administration, payroll processing, and talent management. Clients pay a fee to access and use these services on a recurring basis.
• Implementation Services: Alight also earns revenue by providing implementation services to clients who are adopting its software platforms. This includes helping businesses set up the software, migrate data, and train employees on how to use the tools effectively.
• Consulting Services: Another source of revenue for Alight is its consulting services. The company offers advisory services to clients on various HR-related issues, such as compensation planning, organizational design, and workforce analytics. Clients pay for these services on a project basis or through retainer agreements.
• Other Services: In addition to its core offerings, Alight generates revenue from other services, such as data analytics, compliance services, and health and welfare administration. These additional services provide clients with value-added solutions to meet their HR needs.

Overall, Alight, Inc. (ALIT) generates revenue through a combination of subscription, implementation, consulting, and other services, helping businesses streamline their HR processes and optimize their workforce management.