One of the most interesting and tectonic shifts in the world of tech start-ups has been the emergence of robust markets for buying and selling private shares.
The SEC’s announcement last week that it is was considering relaxing the rules around private shares was met with strong reaction from the VC community.
New York investor Roger Ehrenberg penned a post this morning for Fortune arguing that the private markets were in need of some rationality.
The sale of private shares is shaking up the tech market and helping hot companies prolong their pre-IPO honeymoons. News broke last week about SecondMarket’s
ambitious plans to add 12,000 private companies to its portfolio of offerings, expanding beyond consumer internet companies like Facebook and Twitter which have garnered it attention from the press and SEC.
In fact, Betabeat has learned, one of the most significant players in the financial world has already begun testing the waters. Stake in PIMCO, the closely-watched asset manager with over $1.2 trillion under its control, has been quietly selling on SecondMarket, according to a source familiar with the deals.