NASDAQ OMX and SharesPost to Form Private Market
The Joint Venture - The NASDAQ Private Market - Intends to Enhance the
Efficiency and Control of the Market for Private Shares
Pre-IPO Market Will be Open to All Broker-Dealers
NEW YORK and SAN FRANCISCO, March 6, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX
Group, Inc. (Nasdaq:NDAQ) and SharesPost, Inc. announced today a joint venture
that will establish the preeminent marketplace for private growth companies.
The venture combines NASDAQ OMX's market and operating expertise as well as
resources with SharesPost's leading web-based platform.
The NASDAQ Private Market (NPM) will provide improved access to liquidity for
early investors, founders and employees while enabling the efficient buying
and selling of private company shares. While NASDAQ will retain a majority
stake in the venture, specific terms of the joint venture were not disclosed.
"The support of entrepreneurs is a fundamental element of our DNA at NASDAQ
OMX," said Bruce Aust, EVP of NASDAQ OMX. "The NASDAQ Private Market will
provide private companies additional flexibility as they plan for their future
and, at the same time, bring the investment community unique opportunities. By
combining our resources, expertise and reach with SharesPost's established
technology, we will bring scale, efficiency and transparency to this
An increasing number of companies are choosing to remain private longer, which
requires an efficient means to access liquidity for employees and investors.
NPM will offer a complete, end-to-end solution that will enable a private
company to control the marketplace for its shares. Transactions on NPM will
meet NASDAQ OMX's industry-leading standards for security, compliance and
"NASDAQ OMX has a long history of pioneering capital markets solutions for
companies and creating more efficient markets," said SharesPost Founder, Greg
Brogger. "Its dedication to that mission, and SharesPost's best-in-class
trading platform, will create a new kind of private market and will help NPM
solve the critical challenges facing today's private companies."
NPM will launch later this year pending regulatory approvals, with Greg
Brogger as President, and will be based in San Francisco. SharesPost's broker
dealer and RIA businesses will continue to operate separately from the joint
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 26 markets including 3 clearinghouses and
5 central securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process
more than 1 million messages per second at sub-55 microsecond average speeds
with 99.99% uptime, our technology drives more than 70 marketplaces in 50
developed and emerging countries into the future, powering 1 in 10 of the
world's securities transactions. Our award-winning data products and worldwide
indexes are the benchmarks in the financial industry. Home to approximately
3,300 listed companies worth $6 trillion in market cap whose innovations shape
our world, we give the ideas of tomorrow access to capital today. Welcome to
where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX
Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook
(http://www.facebook.com/NASDAQ) and Twitter
(http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
SharesPost is the market for today's fast-growing private companies, their
shareholders and qualified investors. SharesPost represents companies who wish
to conduct managed liquidity programs and raise primary capital online;
provides investors access to private companies through direct investments and
managed funds; offers shareholders liquidity options; and empowers option
holders to exercise their options.
With a listing of over 200 fast-growing companies, an extensive network of
investors assembled in one place online, and a broad offering of independent,
third-party research and customized products and services, SharesPost brings
greater efficiency, flexibility, and control to the process of raising
capital, and buying or selling shares in the private capital market.
SharesPost's management team includes experienced executives from the
financial services, banking, legal, technology and security sectors, with
concentrated expertise in working with emerging industry leaders.
SharesPost is a registered broker-dealer, a member of FINRA and SIPC. For more
information, please visit www.sharespost.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements
about The NASDAQ Private Market and NASDAQ OMX's other businesses, products
and offerings. We caution that these statements are not guarantees of future
performance. Actual results may differ materially from those expressed or
implied in the forward-looking statements. Forward-looking statements involve
a number of risks, uncertainties or other factors beyond NASDAQ OMX's control.
These factors include, but are not limited to factors detailed in NASDAQ OMX's
annual report on Form 10-K, and periodic reports filed with the U.S.
Securities and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
CONTACT: NASDAQ OMX Media Relations Contacts:
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