Liz Gannes

Recent Posts by Liz Gannes

SecondMarket Employees and Shareholders Sell $13M in Shares on SecondMarket

SecondMarket said today that it had used its own liquidity program to sell $13 million worth of employee and existing shareholder stock. The SecondMarket shares, which were sold at a valuation of $160 million, were bought by Chamath Palihapitiya’s The Social+Capital Partnership, A Grade Investments, Yuri Milner and others. A tech company might call this “eating our own dog food,” but SecondMarket CEO Barry Silbert more delicately called it “eating our own cooking” in a blog post this morning.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik