mobli first co to list on Nasdaq Private Market

The market allows the company's employees to trade options and shares.

Mobile social networks photo and video-sharing platform mobli Media Inc. has become the first company to list on the new Nasdaq Private Market, launched last Thursday. “Nasdaq Private Market enables mobli to provide further benefits to its stockholders through this innovative platform and is intended to increase their liquidation alternatives,” said mobli founder and CEO Moshe Hogeg.

The stock market lags far behind a high-tech trend in recent years. Trading in shares and options of large companies like Facebook Inc. (Nasdaq: FB) and Twitter Inc. (Nasdaq: TWTR) gained traction and drew considerable attention, after employees of private companies, for the first time, were allowed to trade in stock options and sell their shares to third parties, boosting the companies' valuations. Following the IPOs of Facebook and Twitter - the two dominant companies in this trade - in the past year, activity in the private exchanges scaled back.

Nasdaq's owner, The Nasdaq OMX Group Inc. (Nasdaq: NDAQ) decided to collaborate with Sharespost Inc., a leading operator of trading in shares of private companies, to establish the Nasdaq Private Market.

mobli made news in November 2013, when Carlos Slim led a $60 million financing round in the company through America Movil SAB de CV (BMV; NYSE: AMX; Nasdaq: AMOV; BMAD: AMXL). His investment brought the amount of capital raised by mobli to $89 million.

Published by Globes [online], Israel business news - - on March 9, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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