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.