Last Updated: January 2026
Our Mission
UnlistedShares.net exists to educate and inform investors about the complex world of private company stock investing. As companies stay private longer—an average of 12 years now compared to 4 years in 1999—the opportunity to invest in high-growth private companies before they go public has never been more significant or more accessible to accredited investors.
However, investing in unlisted shares is fundamentally different from buying public stocks. The information is limited, liquidity is constrained, valuations are subjective, and risks are substantial. Our mission is to provide comprehensive, unbiased, educational content that helps investors make informed decisions about whether and how to participate in private markets.
What We Do
UnlistedShares.net provides comprehensive educational resources covering every aspect of pre-IPO investing:
In-Depth Guides
We publish detailed guides explaining:
- How to buy unlisted shares: Step-by-step processes, platform comparisons, transaction mechanics, and timelines
- How to sell pre-IPO stock: Liquidity options, secondary market sales, tender offers, and timing considerations
- Valuation methodologies: Understanding 409A valuations, post-money vs. pre-money valuations, liquidation preferences, and how to assess pricing
- Accredited investor requirements: Who qualifies, how to verify status, and what it means legally
- Risk management: Understanding illiquidity, information asymmetry, valuation risk, and concentration risk
Platform Comparisons
We provide objective, detailed comparisons of secondary market platforms including Forge Global, EquityZen, Hiive, and others. Our comparisons cover:
- Minimum investment requirements
- Fee structures and total costs
- Company availability and selection
- Transaction processes and timelines
- User experience and customer support
We do not receive referral fees or commissions from platforms, ensuring our comparisons remain unbiased.
Company Analysis
We publish comprehensive investment guides for major pre-IPO companies including SpaceX, Stripe, Databricks, and others. Each guide includes:
- Business model and product analysis
- Valuation history and current pricing
- Growth drivers and bull case
- Risks and competitive challenges
- How to invest and secondary market availability
- IPO outlook and expected timeline
Educational Resources
Our glossary defines over 100 terms relevant to private investing, from 409A valuations to QSBS tax exemptions. We maintain a curated resources page linking to tools, calculators, regulatory information, and professional service providers.
Our Approach
Neutral & Unbiased
We are not affiliated with any secondary market platform, brokerage, fund, or financial services company. We do not receive referral fees, commissions, or compensation from the platforms or companies we cover. This allows us to provide honest, objective comparisons and analysis without conflicts of interest.
When we compare platforms, we present pros and cons fairly. When we discuss companies, we cover both investment opportunities and risks honestly.
Educational, Not Advisory
Everything on UnlistedShares.net is educational content, not investment advice. We explain how private markets work, what options exist, and what factors to consider—but we never tell you specifically what to invest in or recommend particular securities.
We encourage readers to:
- Conduct their own due diligence
- Consult with qualified financial advisors, CPAs, and attorneys
- Understand their own risk tolerance and investment objectives
- Make informed decisions based on their specific circumstances
Transparent About Limitations
We are transparent about the limitations of private market data:
- Valuations are based on last funding rounds or secondary market data, which may not reflect current market conditions
- Financial information is often estimated or based on limited disclosures
- IPO timelines are predictions that frequently change
- Company availability on secondary platforms fluctuates based on seller activity and company approvals
When we don't have reliable data, we say so rather than speculating or presenting estimates as facts.
Risk-Focused
Private investing carries substantial risks including total loss of capital, years of illiquidity, information asymmetry, and valuation uncertainty. We emphasize these risks throughout our content and encourage conservative position sizing (5-10% of portfolio maximum for any single private investment).
We don't sugarcoat the challenges of private investing. Companies fail, down rounds happen, IPOs get delayed or canceled, and even successful companies can underperform expectations.
Important: Not Investment Advice
The content on UnlistedShares.net is provided for educational and informational purposes only. It does not constitute:
- Investment advice or recommendations
- An offer to buy or sell securities
- Legal, tax, or accounting advice
- A broker-dealer service or securities intermediary
- A solicitation for any particular investment
Investing in private company stock involves substantial risk including the possible loss of your entire investment. You should:
- Consult with qualified professionals (financial advisors, CPAs, attorneys) before making investment decisions
- Verify all information independently rather than relying solely on our content
- Ensure you meet accredited investor requirements before attempting to invest
- Understand that past performance does not guarantee future results
- Invest only capital you can afford to lose and have locked up for years
We make no guarantees about the accuracy, completeness, or timeliness of information presented on this site. Market conditions, company circumstances, and regulatory requirements change constantly.
Who We Serve
Accredited Investors
Individuals and entities exploring pre-IPO investment opportunities as part of their overall portfolio strategy. Our guides help accredited investors understand:
- Whether private investing aligns with their risk tolerance and goals
- How to access opportunities through secondary markets or direct channels
- How to conduct due diligence with limited information
- How to manage illiquidity and concentration risk
Startup Employees
Current and former employees of private companies who have received equity compensation (stock options, RSUs, or restricted stock) and need to understand:
- When and how to exercise stock options
- How to sell vested shares on secondary markets
- Valuation implications of 409A reports and funding rounds
- Tax consequences of equity compensation decisions
Financial Professionals
Financial advisors, wealth managers, family office professionals, and CPAs who work with clients holding or considering private company investments. Our content provides background on:
- How private markets function and differ from public markets
- Platform options and trade-offs for client access
- Valuation methodologies and risk factors to discuss with clients
- Tax considerations including QSBS, AMT, and long-term capital gains
Transparency & Independence
UnlistedShares.net operates independently without financial relationships with:
- Secondary market platforms (Forge, EquityZen, Hiive, etc.)
- Private companies covered on this site
- Venture capital or private equity firms
- Investment funds or syndicates
- Broker-dealers or financial advisors
We do not accept:
- Referral fees or commissions from platforms
- Payment from companies for coverage or favorable mentions
- Advertising from investment products or platforms
- Compensation for "sponsored content" or promotional articles
This independence allows us to provide honest, objective information focused solely on educating readers.
Contact & Questions
We welcome questions, corrections, and feedback. Please visit our contact page for ways to reach us.
For professional advice tailored to your specific situation, please consult:
- Financial advisors: For investment strategy and portfolio allocation
- CPAs and tax professionals: For tax implications of private investing
- Securities attorneys: For legal questions about private placements and equity agreements
See our resources page for directories of qualified professionals.
Staying Updated
Private market conditions, company valuations, and platform offerings change frequently. We update our content regularly to reflect:
- New funding rounds and updated valuations
- IPO filings, withdrawals, or completions
- Platform feature changes and fee updates
- Regulatory changes affecting accredited investors or private markets
- Significant company developments (acquisitions, leadership changes, product launches)
Each page displays a "Last Updated" date. We review major guides quarterly and update them as material changes occur.
To stay informed about pre-IPO opportunities and private market trends, subscribe to our weekly investor briefing (signup form at bottom of most pages).
Our Commitment
UnlistedShares.net is committed to being the most comprehensive, accurate, and unbiased educational resource for private company investing. We believe that informed investors make better decisions, and that transparency about both opportunities and risks serves everyone's interests.
Whether you're considering your first pre-IPO investment or are an experienced private market investor, we hope our guides and resources help you navigate this complex but potentially rewarding investment landscape.
Thank you for visiting UnlistedShares.net.