As Market For Private Tech Shares Booms, New Players Emerge

buying and selling shares As Market For Private Tech Shares Booms, New Players EmergeWith the trade in private shares of tech companies expected to grow by fifty percent this year, new players are joining established exchanges like SharePost and SecondMarket.

Gate Technologies, based out of New York, is one such challenger. It offers an electronic trading platform and claims to provide faster, less expensive transactions for investors. 

According to Bloomberg, these companies are competing for more than $200 million in sales of private stock, a figure that is expected to rise as more tech firms opt out of the IPO market. 

So far the trade in private shares has been limited to a few heavyweight likes Facebook, Twitter and Zynga. But Gate CEO vincent Molinari said he expects his firm to actively trade shares for between 25 and 50 private companies this year. 

In the meantime, the SEC has begun nosing around, officially requesting information from SecondMarket last month. 

bpopper [at] | @benpopper

Article continues below
More from Politics
John Wisniewski took a risk in being Bernie Sanders' most prominent NJ backer during the presidential campaign. This week, the Vermont senator's son, Levi Sanders, campaigned for Wisniewski's opponent, Phil Murphy.
Murphy Crushes Wisniewski In Middlesex, Wiz Home County