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SecondMarket Shareholders Sell $13 Million in Shares on SecondMarket

SecondMarket traded on SecondMarket, as part of its first internal liquidity program. “It was a resounding success” says Barry Silbert, founder and CEO with the company. The secondary transaction was led by The Social + Capital Partnership, a new fund created by former Facebook executive Chamath Palihapitiya. SecondMarket was the fund’s first investment. Additional investors include A Grade Investments, Yuri Milner, Stephan Paternot, Shakil Khan, Ian Osborne, Frank Lavin, Dan Schwartz and others.

SecondMarket shareholders, including current employees, sold approximately $13 million in common stock at a valuation of about $160 million in what the company anticipates will be an annual liquidity event.

Barry Silbert  (founder and CEO, SecondMarket): Market observers believe companies should have a market cap of $1 billion+ before contemplating an IPO. However, $200M companies – not unlike SecondMarket – want to provide interim liquidity to their shareholders.

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Orkes raises $20M

Cupertino, CA-based Orkes, a company focused on the scaling of distributed systems, has raised $20 million.

Motorola Solutions appoints Nicole Anasenes to board

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Apple Announces ‘Groundbreaking’ New Security Protocol for iMessage — MacRumors

Apple today announced a new post-quantum cryptographic protocol for iMessage called PQ3. Apple says this "groundbreaking" and "state-of-the-art" protocol provides "extensive defenses against even highly sophisticated quantum attacks," writes Joe Rossignol.

How data collaboration platforms can help companies build better AI – HBR

By embracing data collaborations, business leaders can safely access high-quality data, avoid legal issues, gain a diverse, pluralistic, and therefore more expansive view of the world, unlocking the full potential of fine-tuned models, writes José Parra-Moyano, Karl Schmedders, and Alex "Sandy" Pentland.