Leading private company stock market incorporates “social” components to online platform
NEW YORK–Mar. 14, 2011–SecondMarket, the leading marketplace for alternative investments, including private company stock, announced today that it launched a new online platform. The new version of the platform introduces aspects of social media into the alternative investing universe by enabling SecondMarket participants to create personalized profiles, discover unique investment opportunities, and connect with other participants by building trusted networks of like-minded investors.
“This next generation platform is a significant step in the growth and evolution of SecondMarket, and reinforces our dedication to being the global destination for alternative investments,” said SecondMarket Founder and CEO Barry Silbert. “The new interface is simple, clean and intuitive, and our expanding private company database enables accredited participants to easily identify investment opportunities and conduct transactions.”
The platform’s new profile feature enables SecondMarket participants to:
- Add biographical and investing information, including investment objectives, strategies and holdings. Participants determine the level of information they provide to others.
- Create a network of “trusted” investors with whom they are comfortable sharing investing strategies, insight and specific holdings. This feature allows participants to emulate real-world investing activities in a regulated, online platform.
- Determine whether profile information is private, available only to their trusted network, or viewable by the entire SecondMarket community.
Moreover, SecondMarket’s new platform provides enhanced corporate information regarding thousands of private companies not previously accessible on SecondMarket. Participants can add companies to their “watch lists,” enabling the SecondMarket community to crowd-source private companies they find particularly interesting. Both accredited and non-accredited investors may create profiles and watch lists, although only accredited investors can purchase shares.
Dominic Preuss, SecondMarket’s Chief Product Officer, led the company’s efforts to create an innovative platform. “We’re very excited to apply best practices from other industries like social media to the financial services sector,” said Preuss. “One of the great product challenges with the new platform has been applying a seemingly simple user experience and solution to a complex problem, but I’m confident that our team has achieved that objective while vastly improving the marketplace.”
SecondMarket has completed over a half-billion dollars in private company transactions across more than 40 different companies. SecondMarket has created a company-friendly marketplace by allowing private companies to establish the terms and parameters of their market, determine eligible buyers and sellers, and establish the frequency of trading activity.
In addition to being the largest platform for private company stock, SecondMarket is also a leading marketplace for several other alternative asset classes, including structured products, bankruptcy claims, private partnership interests, and restricted securities in public companies. More than $20 billion in assets are currently available for sale on SecondMarket.
SecondMarket is the leading marketplace for alternative investments. It has become the online destination for accessing market data, building your investor network and transacting in assets such as private company stock, structured products, public equity and bankruptcy claims. SecondMarket centralizes and simplifies secondary market activity by connecting buyers and sellers, and providing world-class market and operations expertise. SecondMarket has over 50,000 participants including global financial institutions, regional and community banks, hedge funds, private equity firms, mutual funds, corporations and other institutional and accredited investors. SecondMarket’s shareholders include FirstMark Capital, New Enterprise Associates (NEA), SVB Financial Group (Nasdaq: SIVB), the Li Ka-Shing Foundation and Dunearn, a subsidiary of (Singapore) Temasek Holdings. SecondMarket is a registered broker-dealer (Member FINRA, MSRB and SIPC). The company was selected as a 2011 Technology Pioneer by the World Economic Forum in Davos, Switzerland. For further information, please visit www.SecondMarket.com.
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Mark Murphy, 212-825-1619