An IPO drought pushes investors to a murky marketplace
Will the venture secondary market take off in 2024?
Behind the Money · Manuela Saragosa
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Show Notes
In Silicon Valley, the promise of a massive payday for a start-up’s early employees and investors has hinged on those companies eventually going public or being sold off. But with the slowdown in initial public offerings and acquisitions, a different marketplace is set to heat up this year. It is called the venture secondary market, and it’s where both investors and early employees can trade their stakes in privately-held companies. The FT’s venture capital correspondent George Hammond explains the potential pitfalls of this opaque marketplace and why investors will be rushing to it in 2024.
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For further reading:
Investors raise billions to buy discounted stakes in start-ups
Carta customers say platform tried to trade their shares without consent
Carta shuts trading platform after data privacy breach allegations
Staying private: the booming market for shares in the hottest start-ups
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On X, follow George Hammond (@GeorgeNHammond) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.
Read a transcript of this episode on FT.com
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