Scoop! NASDAQ Finally Launches Private Company Market
It’s taken a while to do it but finally NASDAQ Private Market has launched as a “new capital marketplace for private companies.”
I had the scoop on this back in late 2012. Robert McCooey (above), NASDAQ’s senior vice president of capital markets and new listings, told Silicon Valley Watcher about the plans. Exclusive: NASDAQ Plans To Unify Private Shares Markets.
Kim-Mai Cutler at Techcrunch reports:
Greg Brogger, who started an early platform called SharesPost for buying shares of pre-IPO companies and is now managing the new program, says that NASDAQ’s new market is tailored to let companies have more control over the process.
They can use the platform to let early employees sell their shares while managing who can buy and sell shares, how many shares can be sold at any time, and the timing of transactions and the depth of financial disclosures to prospective investors.