Nasdaq is acquiring SecondMarket Solutions Inc. to expand its services for private companies that want to trade shares while avoiding the burdens and risks of going public.
SecondMarket will be incorporated into Nasdaq Private Market, a trading venue for the stock of private companies, Nasdaq announced Thursday in an earnings release. Bill Siegel, chief executive officer of SecondMarket, will lead the combined business. Their merged client base will include more than 200 private companies, including Pinterest Inc., Tango Inc. and DocuSign Inc. Terms of the deal were not disclosed.
