A startup called SharesPost is trying to create a new, members-only marketplace for pre-IPO securities. The Mercury News reports that the first transaction on SharesPost occurred Monday: the sale of 2,500 shares of Tesla Motors at $10 per share. Deals and valuations involving such startups as Facebook, Twitter, LinkedIn, Linden Labs, Ning, Slide, SolarCity, SugarCRM, XDx and others are expected to follow.
SharesPost founder and CEO Greg Brogger compared his company to “a cross between Craigslist and eBay.” Sellers and “accredited” buyers, expected to have a net worth exceeding $1 million, can interact for a monthly subscription of $34, and there is no charge for transactions on the site, Mercury News reports. Brogger added that SharesPost could eventually represent “the third exit” for venture firms that are unable to execute IPOs or M&A deals.