A new marketplace for shares trading of unlisted companies would be rolled out as a joint venture between Nasdaq and SharesPost Inc. The majority stake in the venture would be held by Nasdaq Private Market as SharesPost still is addressing regulatory issues with its private trading platform.

The venue of the market would be San Francisco and will be launched in late 2013 after obtaining regulatory approvals. The head of the venture would be SharesPost founder Greg Brogger.

In SharesPost, the system matched buyers and sellers online for unlisted shares exchanges and was shut down by the SEC for failing to register as a broker-dealer before commencement of operations. This though will not affect the venture as this is a separate and distinct advisory and dealership operations.

Much of the success of SharesPost, which was established in 2009, was when then technology startups such as LinkedIn and Facebook were still privately held and was traded in their market before being offered to the public.