NASDAQ Opens Private Market

NASDAQ has opened the NASDAQ Private Market. The new market will allow for stock in privately held companies to be sold by the company and its employees. An advantage of this market is that it will give the company control over which employees can sell shares and how many shares they can sell. To be listed, a company must have funding of $30 million in the past two years, an enterprise value of at least $50 million, and annual net income of more than $750,000. The market will allow companies to disclose financial data, but according to the JOBS Act, the companies will not have to make forward-looking statements.