New trading platform Augment brings transparency to hot secondary market for shares in private tech companies
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The secondary market for trading shares in private companies is seeing renewed interest as valuations fall and more unicorns stay private longer.
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Augment is a new trading platform aiming to make secondary markets more transparent with pricing data and streamlined trading.
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Top traded companies on Augment include Rubrik, Reddit, SpaceX and Chainalysis. Around 80% of activity is in 30 companies.
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Sellers are often employees seeking liquidity pre-IPO. Buyers include brokers purchasing shares for high-net-worth individuals.
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Minimum trades start around $100k but Augment is working to allow smaller trades, recently launching a Collective product for buys starting at $5k.