2016锟斤拷02锟斤拷05锟斤拷11:34

锟斤拷锟斤拷锟叫筹拷锟斤拷锟斤拷司锟接斤拷锟截癸拷员锟斤拷锟斤拷票

锟斤拷锟斤拷锟斤拷锟斤拷锟� »

图片锟斤拷源锟斤拷VICTOR J. BLUE/BLOOMBERG NEWS

锟斤拷锟斤拷锟斤拷斯锟斤拷锟剿斤拷锟斤拷谐锟斤拷锟揭伙拷锟斤拷卤锟斤拷妫拷锟斤拷谐锟斤拷械姆锟斤拷锟斤拷谐锟斤拷锟斤拷锟揭等ワ拷锟截癸拷锟斤拷员锟斤拷锟缴份斤拷2014锟斤拷锟斤拷锟斤拷40%锟斤拷

锟斤拷

锟叫癸拷司锟斤拷锟斤拷锟斤拷去锟斤拷唯一锟斤拷锟叫癸拷票锟截癸拷锟斤拷锟斤拷业锟斤拷

锟斤拷锟斤拷锟斤拷斯锟斤拷锟剿斤拷锟斤拷谐锟�(Nasdaq Private Market)锟斤拷一锟斤拷锟铰憋拷锟芥，锟斤拷锟叫筹拷锟叫的凤拷锟斤拷锟叫筹拷锟斤拷锟斤拷业去锟疥共锟截癸拷锟斤拷9.4锟斤拷锟斤拷元锟斤拷员锟斤拷锟缴份ｏ拷锟斤拷2014锟斤拷锟斤拷锟斤拷40%锟斤拷

锟斤拷斯锟斤拷锟剿斤拷锟斤拷谐锟斤拷母锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷(Bill Siegel)指锟斤拷锟斤拷锟斤拷锟斤拷懈锟斤拷锟侥凤拷锟斤拷锟叫筹拷锟斤拷锟斤拷业锟斤拷一些员锟斤拷锟斤拷前锟桔癸拷锟斤拷锟街ｏ拷锟斤拷为锟阶次癸拷锟斤拷募锟斤拷(IPO)锟叫筹拷锟窖达拷锟斤拷呕锟斤拷锟斤拷锟斤拷锟轿讹拷锟斤拷锟揭碉拷锟斤拷械锟绞憋拷浣拷锟斤拷锟揭伙拷锟斤拷瞥佟锟斤拷锟剿癸拷锟斤拷私锟斤拷锟叫筹拷锟斤拷锟斤拷锟斤拷泄锟剿撅拷峁╋拷锟斤拷锟斤拷锟阶拷哦锟皆憋拷锟斤拷酃山锟斤拷泄锟斤拷锟斤拷锟�

锟斤拷锟斤拷锟街革拷锟斤拷锟斤拷锟斤拷锟阶拷獾揭恍╋拷锟斤拷锟斤拷锟斤拷玫墓锟剿撅拷锟斤拷诖锟斤拷模锟斤拷展锟斤拷锟洁交锟阶ｏ拷锟斤拷锟斤拷锟斤拷业锟侥成筹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷选锟斤拷毓锟斤拷锟绞憋拷锟斤拷锟角帮拷瞬锟斤拷佟锟斤拷锟斤拷锟教革拷锟斤拷锟斤拷锟揭碉拷锟斤拷锟斤拷锟轿伙拷锟斤拷锟阶★拷锟斤拷诠锟斤拷锟斤拷锟较ｏ拷锟斤拷锟斤拷锟斤拷约锟斤拷墓煞锟斤拷懿锟斤拷锟斤拷乇锟皆憋拷锟斤拷牟锟斤拷锟斤拷怨锟斤拷摺锟�

员锟斤拷锟桔癸拷锟街憋拷锟斤拷为锟斤拷锟斤拷锟轿筹拷锟桔★拷(secondary sale)锟斤拷锟斤拷越锟斤拷锟轿ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟轿拷暇锟斤拷锟絀PO锟叫筹拷之一锟斤拷锟斤拷也使锟斤拷锟斤拷些锟斤拷锟斤拷锟斤拷10锟疥但锟斤拷然未锟斤拷锟叫的筹拷锟斤拷锟斤拷业锟斤拷IPO锟狡伙拷锟斤拷一锟斤拷锟狡迟★拷

去锟疥，锟斤拷斯锟斤拷锟剿斤拷锟斤拷谐锟斤拷萍锟斤拷锟斤拷锟斤拷锟叫癸拷司锟斤拷员锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷40锟斤拷锟桔股斤拷锟阶ｏ拷锟斤拷锟斤拷16锟斤拷锟斤拷元锟斤拷锟斤拷锟街拷拢锟�2014锟斤拷慕锟斤拷锟斤拷锟斤拷锟轿�30锟绞ｏ拷锟斤拷锟街讹拷为15锟斤拷锟斤拷元锟斤拷锟斤拷锟叫筹拷通锟斤拷锟斤拷锟斤拷露锟斤拷锟洁交锟斤拷锟叫碉拷锟斤拷遥锟斤拷锟斤拷锟斤拷锟酵讹拷锟�(Fidelity Investments)、T. Rowe Group Inc.锟皆硷拷锟斤拷锟斤拷锟斤拷(BlackRock Inc., BLK)锟饺癸拷同锟斤拷锟斤拷锟饺ワ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟狡憋拷锟�

锟斤拷锟斤拷锟斤拷锟斤拷丫锟斤拷锟斤拷锟斤拷锟斤拷锟�2016锟疥，锟斤拷税锟斤拷锟斤拷锟斤拷IPO锟叫筹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟街★拷

锟斤拷锟斤拷锟斤拷疲锟斤拷锟斤拷纬锟斤拷劢锟斤拷锟斤拷锟斤拷拥锟斤拷锟酵凤拷锟斤拷锟斤拷锟斤拷锟�2016锟疥，锟斤拷映锟斤拷IPO锟叫筹拷锟斤拷锟斤拷未锟�2015锟斤拷锟斤拷傻锟�2016锟斤拷摹锟�

锟斤拷司通锟斤拷锟斤拷锟斤拷锟斤拷一锟斤拷锟斤拷锟绞伙拷玫锟斤拷式锟轿拷毓锟皆憋拷锟斤拷锟斤拷止煞锟斤拷峁╋拷式锟斤拷锟斤拷锟斤拷锟斤拷慕锟斤拷锟斤拷校锟斤拷锟叫╋拷锟斤拷鼙锟斤拷锟酵讹拷锟斤拷卟锟斤拷芄锟街碉拷陆锟接帮拷锟斤拷锟斤拷通锟缴憋拷锟斤拷为锟斤拷锟饺股ｏ拷锟斤拷锟饺癸拷通锟斤拷锟斤拷锟斤拷锟杰癸拷锟斤拷证投锟斤拷锟斤拷锟斤拷锟桔股伙拷锟斤拷锟絀PO时锟斤拷锟侥承╋拷乇锟斤拷锟斤拷锟斤拷睢�

去锟斤拷毓锟斤拷锟斤拷锟秸硷拷锟斤拷蟛糠郑锟斤拷锟斤拷锟斤拷锟斤拷诨锟斤拷锟酵讹拷锟斤拷锟斤拷锟斤拷员锟斤拷锟斤拷锟街股凤拷直锟接凤拷锟斤拷锟斤拷锟秸癸拷要约锟斤拷锟斤拷说锟斤拷锟斤拷锟斤拷锟绞斤拷锟结供锟竭革拷锟接碉拷锟侥癸拷值锟铰斤拷锟斤拷锟斤拷锟解。锟截癸拷锟斤拷锟斤拷占通锟斤拷锟斤拷斯锟斤拷锟剿斤拷锟斤拷谐锟斤拷锟斤拷械亩锟斤拷纬锟斤拷劢锟斤拷锟斤拷锟斤拷锟斤拷锟�58%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷2014锟斤拷锟�44%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷为直锟斤拷锟秸癸拷要约锟斤拷

锟斤拷锟斤拷锟斤拷疲锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟戒化锟斤拷锟斤拷说锟斤拷锟斤拷锟斤拷锟斤拷锟酵拷桑锟酵讹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟饺股★拷

锟斤拷锟斤拷锟斤拷锟斤拷锟戒化锟斤拷锟杰诧拷锟斤拷锟斤拷锟斤拷私锟斤拷锟斤拷锟斤拷锟叫筹拷锟斤拷2015锟斤拷锟斤拷锟戒，去锟斤拷锟斤拷锟酵讹拷锟斤拷叻追锟斤拷顺锟斤拷锟斤拷驶疃拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟轿达拷锟斤拷谐锟斤拷锟斤拷锟剿撅拷煞莸募锟街碉拷锟�

锟斤拷同锟斤拷锟斤拷一直锟节硷拷锟斤拷锟斤拷锟斤拷Dropbox Inc.锟斤拷Snapchat Inc.锟饺达拷锟酵筹拷锟斤拷锟斤拷司锟斤拷锟斤拷值锟斤拷锟斤拷十锟斤拷锟斤拷元锟斤拷锟缴份的硷拷值锟斤拷锟斤拷些锟斤拷锟斤拷通锟斤拷锟斤拷锟捷讹拷锟斤拷锟叫筹拷锟斤拷锟阶价革拷锟斤拷屑锟街碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟剿癸拷锟斤拷私锟斤拷锟叫筹拷锟斤拷示锟斤拷锟斤拷锟斤拷没锟叫诧拷锟诫交锟阶碉拷投锟斤拷锟斤拷锟斤拷露锟斤拷些锟斤拷锟绞活动锟侥价革拷

Telis Demos

锟斤拷锟斤拷锟侥帮拷权锟斤拷锟斤拷锟剿癸拷锟剿撅拷锟斤拷校锟轿达拷锟斤拷锟斤拷刹锟斤拷梅锟斤拷锟斤拷转锟截★拷锟斤拷