SharesPost

Founded in 2009 by Greg Brogger, SharesPost emerged as a pioneering platform dedicated to providing liquidity solutions within the private growth asset class. The firm was established to create a more transparent and efficient market for the equity of late-stage, venture-backed companies. Brogger, a seasoned entrepreneur with co-founding roles at companies like TrueCar and a background as a securities lawyer, identified the growing need for a marketplace where shareholders of private entities could transact. His experience at Wilson Sonsini Goodrich & Rosati and The Wharton School provided a robust foundation for navigating the complex regulatory and financial landscape of private securities.

SharesPost operated a platform that connected shareholders, investors, issuers, and entrepreneurs, facilitating the buying and selling of private company shares. It catered to a niche but expanding market of late-stage, venture-backed private companies, often referred to as "unicorns". The company's business model centered on generating revenue from transaction fees, charging a commission on completed trades. It also offered premium services for a fee, including market research, analytics tools, and customized advisory support to clients needing deeper market insights. The platform provided valuable bid, offer, and pricing data, increasing transparency in the traditionally opaque private markets.

A significant milestone in the company's history was its merger with Forge Global, a direct competitor, which was announced in May 2020 and closed in November 2020. The cash-and-stock deal was valued at $160 million. The merger aimed to create one of the largest global private securities marketplaces by combining SharesPost's extensive network of individual investors with Forge's focus on institutional clients. Following the acquisition, the combined entity continued to operate under the Forge brand, and Greg Brogger joined the Forge Board of Directors to advise the new entity. Prior to the merger, SharesPost had raised approximately $18-38 million in funding and had facilitated billions of dollars in private market transactions since its inception.

Keywords: private securities, secondary market, liquidity solutions, venture-backed companies, pre-IPO, private equity, shareholder liquidity, investment platform, financial technology, late-stage growth, unicorn marketplace, Greg Brogger, Forge Global, private market data, equity transactions, investment research, private company shares, capital markets technology, secondary liquidity, venture capital, stock market, share trading, financial services, asset class