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Except in Uber's case where they are famous for keeping tight control on secondary sales. http://fortune.com/2014/06/20/uber-plays-hardball-with-early-sharehol

• charlesdm 10y ago
  Since I don't have Uber shares, I wouldn't know. But that's how it usually works.
  • toomuchtodo 10y ago
    Can someone who does have Uber shares chime in anonymously here?
• patmcguire 10y ago
  I can't find the link because the huge media churn makes it impossible to find anything that isn't the most recent story, but didn't they ban Chris Sacca from the Uber office for hanging around and buying secondary shares from people? I think the lockdown happened after that.
  • mikeyouse 10y ago
    You're probably thinking of Sacca and Twitter: http://techcrunch.com/2011/02/27/jp-morgan-twitter-chris-sacca-10-percent-secondary/ http://techcrunch.com/2011/02/27/jp-morgan-twitter-chris-sac... He may have done the same for Uber, but I haven't heard anything about that at all.
    • stefanstokic 10y ago
      http://www.forbes.com/sites/alexkonrad/2015/03/25/how-venture-cowboy-chris-sacca-made-billions/#79a27d26fa8c http://www.forbes.com/sites/alexkonrad/2015/03/25/how-ventur... "the Uber CEO got upset with Sacca for trying to repeat his Twitter move of buying up secondary shares in Uber from other initial investors."
      • mikeyouse 10y ago
        Ah good eye, thanks, hadn't heard anything at all about that.
      • eru 10y ago
        I wonder why management would want to keep anyone from bidding up the share price?
        • supster 10y ago
          It starts to create a secondary market for the shares, which means over time a price gets set. So the next time they try to raise money, this price becomes an anchor point rather than whatever arbitrary price Uber tries to set based on perceived supply & demand.
          • eru 10y ago
            Yeah, probably. Even though at first the secondary market props up the price, it is indeed a price.