Thursday, October 22, 2015

Nasdaq Buys SecondMarket

San Francisco-based private shares marketplace SecondMarket has been acquired by Nasdaq, the two said this morning, and will become part of the NASDAQ Private Market. SecondMarket CEO Bill Siegel will become head of Nasdaq's private market efforts. Financial terms of the deal were not disclosed. SecondMarket offers up a marketplace and technology to help private companies with liquidity and secondary share sales. Both market offering help provide liquidity to employees and early investors in private companies, ahead of an IPO. Nasdaq also acquired the remainder of the stake in The NASDAQ Private Market from SharesPost, which has been a competitor to SecondMarket.