Despite a couple big-name companies like Groupon and Zynga lining up for IPOs, the demand for private company stock on alternative exchanges keeps rising. Private stock transactions on SecondMarket in the first three quarters of 2011 totaled $435 million, a 73 percent increase over the same period last year. In the third quarter alone, there were $167 million worth of transactions on SecondMarket, up 49 percent from the second quarter.
Who is buying all of these shares? SecondMarket breaks it out in its third quarter report. Wealthy “accredited individuals” made up the largest share of buyers (63 percent by dollar amount), followed by asset managers (22.3 percent of transactions), hedge funds (7.8 percent), and venture capital funds (5.1 percent). VC funds became much more active on SecondMarket in the quarter, accounting for 17.5 percent of the transactions by number. Last quarter, VCs made up less than 1 percent of transactions (and only 0.2 percent by dollar amount). → Read More
There is always an element of the confessional about interviewing people, but I really felt like a priest when I interviewed MySpace co-founder and CEO Chris DeWolfe earlier this week. DeWolfe was keynoting San Francisco’s FailCon conference and our conversation naturally focused on failure – and particularly, of course, the meteoric failure of MySpace.
This the second in a weeklong series of interviews about failure. Yesterday, Vinod Khosla confessed to me that he had experienced many more failures than successes in his seemingly illustrious career. → Read More
In what I think is an interesting experiment, CBS this morning debuted a “60 Minutes” application that you can find in and launch from the Chrome Web Store (which just got a major facelift).
Granted, “adding it to Chrome” doesn’t really do anything but take you to this page, which you can just open in Chrome just like you would any page, but the Web app does look pretty nice. → Read More