109: Nasdaq Private Market: Helping Fast-Growing VC-Backed Firms Access Liquidity & Stay Private – With Tom Callahan, CEO
Money Maze Podcast
Money Maze Podcast
4.8 • 216 Ratings
🗓️ 24 August 2023
⏱️ 47 minutes
🧾️ Download transcript
Summary
Tom discusses how the introduction of the JOBS Act during Obama’s reign accelerated the need to have a market place for buyers and sellers to meet, as well as supporting price discovery & settlement.
Tom explains their growth, rationale, technology and trajectory and why they were spun off in 2021 . He discusses their cornerstone investors and how employees of private companies to early VC backers stand to gain from increased transparency and liquidity.
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The Money Maze Podcast is kindly sponsored by Schroders, Bremont Watches, and LiveTrade. We’re pleased to also be supporting GAIN as our 2023 Charitable Partner!
NASDAQ PRIVATE MARKET, LLC IS NOT A REGISTERED EXCHANGE UNDER THE SECURITIES EXCHANGE ACT OF 1934. NASDAQ PRIVATE MARKET IS OPERATIONALLY INDEPENDENT AND DISTINCT FROM THE NASDAQ STOCK MARKET LLC. SECURITIES-RELATED SERVICES ARE OFFERED THROUGH NPM SECURITIES, LLC, A MEMBER OF FINRA AND SIPC. NONE OF THE INFORMATION PROVIDED REPRESENTS AN OFFER TO BUY OR SELL, OR THE SOLICITATION OF AN OFFER TO BUY OR SELL, ANY SECURITY, NOR DOES IT CONSTITUTE AN OFFER TO PROVIDE INVESTMENT ADVICE OR SERVICE. INVESTING IN PRIVATE COMPANY SECURITIES IS NOT SUITABLE FOR ALL INVESTORS. IT IS HIGHLY SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK.
Transcript
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| 0:00.0 | So 15 years ago, the average company IPOed at five years. |
| 0:05.4 | Today, it's close to 14 years. |
| 0:08.2 | So companies are waiting longer to go public. |
| 0:12.7 | So this asset class has now grown, as I said, to $4 trillion. |
| 0:16.6 | Welcome to the Money Maes podcast. |
| 0:19.0 | I'm Simon Brewer, and Will Campion and I have created this show to explore and unravel some of the mysteries surrounding the investment business. |
| 0:27.1 | You can keep up to date by visiting Moneymayspodcast.com, and please sign up to our newsletter to ensure you won't miss a release. |
| 0:34.5 | If you enjoy this show, please subscribe, and we'd love you to tell a friend or colleague |
| 0:38.4 | about it. Thank you for listening. In February 1971, NASDAQ was launched after the US |
| 0:46.7 | Securities and Exchange Commission wanted to automate the market for securities not listed on |
| 0:51.7 | an exchange. The result was the first electronic trading system, |
| 0:56.0 | an alternative to the inefficient specialist system which had prevailed for almost a century. |
| 1:01.0 | Today it's the most active stock trading venue in the US by volume, |
| 1:05.0 | and the rapid evolution of technology has made NASDAQ's electronic trading model the standard for markets worldwide. |
| 1:12.4 | Leap forward to 2013, a NASDAQ private market was founded to help solve private company |
| 1:18.9 | liquidity in direct reaction to the Jobs Act. So to explore and understand this and its ambitions, |
| 1:25.6 | we're delighted to have its CEO, Tom Callaghan, a 38 finance |
| 1:29.7 | industry veteran. Tom, welcome to the Moneymade podcast. Thank you, Simon. It's a thrill to be here, |
| 1:35.6 | really looking forward to this conversation. So thank you. Well, a week ago, we had a call just to prepare |
| 1:41.5 | the ground, and you were in the Jordanian desert in a Jeep and I was |
| 1:45.4 | about to interview the CEO of Amgen, Bob Bradway, and you were able to send me a related newsflash |
| 1:50.7 | about what was coming up within seconds of our call ending, proving that technology is universal, |
... |
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