Equidate, Inc., a marketplace for pre-IPO company shares, raised a seed funding of undisclosed amount.
– Scott Banister (an early investor in PayPal, Uber, Zappos),
– Charlie Cheever (co-founder of Quora), and
– Structure Capital, and
– other angel investors.
Led by Sohail Prasad, CEO, and newly appointed Head of Strategic Operations John-Paul Teutonico, who is a former Chief Administrative Officer at SecondMarket, Equidate provides a web-based platform for investors to invest in fast-growing private companies before they go public and for an employee to find a way to liquidate shares in a growing startup.
The marketplace can be accessed by accredited investors with a net worth over $1 million or yearly earnings over $200,000.