SharesPost, the private company marketplace headed by Greg Brogger, which had been incubated and started in Santa Monica via Brighthouse, the startup incubator run by Brogger and Scott Painter, is in a joint venture with NASDAQ OMX, the two said this morning. According to the two companies, the move will create a new marketplace for private growth companies, which combines NASDAQ OMX's experience in the market and resources, and SharesPost's web-based platform for trading private stock.
As part of the deal, NASDAQ will retain a majority stake in the new NASDAQ Private Market (NPM). Financial details of the joint venture were not disclosed. The deal is a big one for SharesPost, giving it a significant edge over competing private market firm SecondMarket.
It's also a big win for Brogger, who started SharesPost to help angel investors, venture capital investors, and founders in private company find liquidity, in a market which had been starved for IPOs. Brogger was at CarsDirect with Scott Painter, who heads up TrueCar. SharesPost is now up in San Bruno.