Investing in private startups is a hot trend. But, sorry, you’re not invited.


Reports of the demise of SecondMarket have been greatly exaggerated.

The company carved out a niche by facilitating trades of private-company stock, particularly pre-IPO shares of LinkedIn [fortune-stock symbol=”LNKD”] and Facebook [fortune-stock symbol=”FB”]. But once those companies went public, trading volume in the so-called secondary market stalled, and publications including the New York Times predicted that the sun was setting on SecondMarket and other secondary exchanges like SharesPost. Bloomberg reported in January that both exchanges had “wound down” operations.

But that “couldn’t be further from the truth,” SecondMarket founder and chairman Barry Silbert told Fortune recently.

Indeed, secondary trading volume—both at SecondMarket and more broadly—recently surpassed its pre-Facebook IPO heyday. According to data provided exclusively to Fortune, SecondMarket has already facilitated more than $900 million in secondary stock sales in the first half of 2014 alone—nearly quadruple the $250 million it did all of last year. Overall, secondary transactions…

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