Liquidity has been a longstanding challenge that I, as the founder of eShares, have been determined to address for nearly a decade. Our initial vision was to become the “Nasdaq for Private Markets” and provide a solution to the liquidity problem faced by founders, employees, and angel investors. However, our journey has had mixed results. While our captable and fund administration businesses have thrived, our secondary trading business has been a disappointment. Despite having access to valuable data, we have not been able to leverage it effectively. It has become evident that Carta might not be the company to solve this problem, and we are prioritizing the interests of our founders by exiting the secondary trading business and focusing on our core strengths. There are many other talented individuals working on the private market liquidity challenge, and we will support them from the sidelines.
https://henrysward.medium.com/should-carta-facilitate-secondary-trading-c319e0c9f080