Don’t Want to Wait for the IPO? SharesPost Can Help

Ever wish you could have gotten your foot in the door and bought stock in a hot Internet startup before it went public? Greg Brogger may be able to help you out, according to AP.

Brogger launched SharesPost publicly earlier this month. The site allows people like his business partner, Scott Painter, to sell shares in companies he helped to found, such as car-pricing startup TrueCar. It also offers the opportunity for stakeholders in companies that have yet to go public to sell and trade their shares without waiting for the initial public offering. The site uses an online bulletin board to introduce buyers and sellers.

The exchanges are only open to a small pool of buyers, AP reported—institutional investors such as venture-capital firms or pension funds that manage at least $100 million in assets, or individual accredited investors, meaning people with a net worth of at least $1 million or a salary of at least $200,000 for the past two years. SharesPost told AP it has only executed one $25,000 transaction.