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Nasdaq Aims to Lure Startup CEOs With New Message: Stay Private

Facebook Inc.’s 2012 stock market debut helped spark a boom in U.S. initial public offerings, sucking the life out of a Wall Street fad that the social network had helped popularize: private share exchanges.

SecondMarket Inc. and SharesPost Inc., which flourished by letting early investors of closely held companies buy and sell shares, wound down their exchanges when Facebook insiders no longer needed the services and companies like Twitter Inc. restricted their use. Now, Nasdaq OMX Group Inc. Chief Executive Officer Robert Greifeld, whose firm was also a casualty of Facebook’s IPO, plans to restore the concept to glory with some help from Congress.