Second Is The New First
The startup built to help normal folks like you and me (who happen to have $1M laying around and/or made over $200K in the last two years) can trade in private companies like Facebook and Twitter has released their third quarter private market results for 2011! What does SecondMarket have behind Door Number Q3! (UPDATED)
Betabeat published a story yesterday about the ways in which tech investors who write about private companies on public blogs might run afoul of SEC regulations. It focused, naturally, on Mike Arrington, who saw the post around 2 a.m. this morning and responded with this tweet:
“Screw that. Let me introduce you to the first fucking amendment to our constitution.”
Mr. Arrington failed to provide any links to the first amendment, but luckily, Betabeat had spent yesterday afternoon conversing with Prof. John Coffee of Columbia University, one of the foremost experts on securities law in the nation.
Big names like Facebook and Twitter get all the attention when their shares trade on secondary markets. But New York VCs are actively encouraging their smaller portfolio companies to make use of platforms like SecondMarket and Sharepost.
“When this activity first started to appear two years ago, a lot of investors said the sky was Read More
Tech Bubble Watch
Gate Technologies is looking to shake things up in the booming field of secondary markets,announcing the acquisition of Infoexchange yesterday.
Companies like Sharepost and SecondMarket, Gate’s most well known New York competitor, rely on privately managed auctions, brokerages and trading specialists to set prices and transact the share of tech companies Read More