In May 2019, Carta announced its plans to build a share trading platform for private companies called CartaX.
The startup restated its intentions in its recent fund raise. It would allow companies with over $1Bn in revenues and at least $50mm worth of shares to float, to enlist on its platform.
7GC Founding Partner, Jack Leeney, shared his view on the private secondary platform with the Financial Times this week. He was quoted,
“This only makes sense and only works for the biggest issuers in the world, provided the secondary market wants to pay a higher price,”. And, further adding, “In the event there’s ever lower prices . . . the company’s totally disincentivised.”
The full article can be found in the Financial Times here.