Given the Twitter-mania that seems to be sweeping the world, it would be a public service to talk about Sharespost, the passive bulletin board to connect buyers and sellers of private equity of hot companies like Twitter, Tesla, eHarmony, Facebook, SolarCity, and a couple of hundred more.
This is really a very good idea as shareholders of privately held startups have never had such a convenient was to transform their shares into cash in advance of “the liquidity event” all startups attempt to catalyze. Now, this isn’t like opening an E-Trade account, it’s more involved and expensive than that. To keep the riff-raff out, the minimum transaction size is $25,000 and there is a flat $2,500 transaction fee payable to US Bank.
In order to stay in the good graces of the Securities and Exchanges Commission, Sharespost is simply putting qualified Buyers and Sellers in a place to have a private conversation and making pertinent information about both parties and the companies available for faster and more efficient decisions. So I say kudos to Greg Brogger & Co to providing a much needed and potentially very useful service to shareholders and buyers alike.