May 12, 2020 08:00 AM Eastern Daylight Time
SAN FRANCISCO–(BUSINESS WIRE)–Forge Global and SharesPost, Inc, preeminent private securities marketplaces, announced today they have signed an agreement to merge, pending regulatory approval and customary closing conditions. Together, the two companies will create one of the largest global private securities marketplaces, bringing liquidity and transparency at scale to pre-IPO companies and investors.
Combined the two companies have facilitated thousands of transactions, resulting in more than $6 billion in private market transaction volume, for hundreds of private companies. Together, the companies have a combined customer base of more than 1 million and will strengthen their comprehensive and scalable technology platform, furthering the combined entity’s position as a leading source of historical private market trade data.
“We see a world of rapidly evolving capital solutions that keep pace with the evolutionary magnitude that innovation companies are driving in the global economy,” said Kelly Rodriques, CEO of Forge. “SharesPost has been a trailblazer in the industry; joining forces will greatly benefit our customers, as well as accelerate and expand our capabilities as the operating system for private market transactions. Ultimately, we will deliver more mission critical infrastructure for our customers than any other private market operator in the world.”
With this deal, the combined company will be strongly positioned to serve the unique needs of both Retail and Institutional investors across the globe. The combined platforms will provide buyers and sellers with deeper insight on private company trends, as well as bid, offer, and pricing data that provides transparency to clients and partners to better understand and engage in the private markets.
“We launched SharesPost a decade ago with the mission of creating a far more efficient, more liquid capital market to support entrepreneurs and their companies,” said Greg Brogger, Founder and CEO of SharesPost. “By combining these two companies, we believe we create a leader in the private markets and complete our mission.”
Rodriques will continue as CEO of the combined entity under Forge Global, Inc. SharesPost founder and CEO Greg Brogger will step down from his current role, but will continue to advise the combined company as a member of the Forge Board of Directors. Forge will maintain offices in San Francisco, New York, San Carlos, South Dakota and Hong Kong. SharesPost’s investment advisor and certain other subsidiaries will be excluded from the transaction and will continue to operate independent of the combined companies.