Q&A With DFJ’s Tim Draper: Why Private Companies Need a Healthy Secondary Market

Xpert Financial, one of several online marketplaces created for pre-IPO companies like Facebook to raise funds and sell shares prior to going public, is retrenching, VentureWire reported Tuesday, as interest in its business waned following Facebook’s lackluster IPO. Although it still has several assets, most of its staff has moved on.

Meanwhile, Xpert Financial founder Thomas Foley is working on a new software company, CapRally, with help from a couple of Xpert Financial executives, for companies to track new fundraising and investors to track new funds.

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