Forge Global, a platform for secondary shares to be bought and sold, has launched a new data tool called Forge Intelligence that pulls information from a company’s proprietary transaction log.
"The range of ways to go public has changed forever," said Kelly Rodriques, CEO of Forge, a company that lets people sell shares of private companies. "There is more flexibility now with direct listings and SPACs."
Kelly’s commentary on SPACs was featured in a Forbes piece on the potential Vice SPAC merger with 7CG Holdings and Co. The reporter questioned the intentions of a public debut via SPAC, cautioning readers not to invest, should it go public. The article highlighted Kelly as the key opinion on the financial outlook of this potential merger.
Forge is the largest of the new venues that have cropped up in recent years to facilitate trading in private companies. The company recently raised $150 million from investors including Wells Fargo and Temasek, the Singaporean sovereign wealth fund, CNBC learned.
“Robinhood created a really great user and customer experience for millennials to invest with,” said Kelly Rodriques, chief executive of pre-IPO marketplace Forge. “There is a whole generation of investors that are participating in the markets that weren’t there before.”
Forge welcomes interest from the media and is committed to bringing greater transparency to the private market. However, Forge facilitates offerings and transactions in unregistered securities for private companies and their shareholders. These transactions are subject to complex securities laws and regulations impacting public disclosure of related details. Additionally, Forge’s commitment to confidentiality for both issuers and clients prohibits disclosure of particular transactions. Accordingly, Forge’s policy is to not comment on, confirm or deny any pending or potential transaction.