EquityZen
EquityZen is a private-shares marketplace that connects accredited retail investors seeking pre-IPO exposure with employees and early shareholders seeking liquidity, operating as a Morgan Stanley subsidiary following its January 2026 acquisition.
- Company typePrivate
- Founded2013
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2C
- OfferingDigital Commerce or Content
What EquityZen does
EquityZen operates a digital marketplace that connects buyers and sellers of private company shares, enabling accredited investors to access pre-IPO equity investments and providing liquidity to employees and early investors holding concentrated equity positions. The platform facilitates secondary transactions for late-stage private companies through a suite of products: the core EquityZen Platform for browsing and executing share trades; Express Deals, an expedited feature for selling fund interests to other investors; Private Market Map and Market Score, visualization and scoring tools designed to demystify pre-IPO investing; a Bid Feature paired with a $5,000 minimum investment threshold; and Cap Table Management software for private companies. As of January 2026, EquityZen is a wholly-owned subsidiary of Morgan Stanley (NYSE: MS), with the platform integrated into Morgan Stanley's wealth management ecosystem under Head of WM Jed Finn and CEO Ted Pick. Headquartered in New York with 101–250 employees, the company was founded in 2013 by Atish Davda, Phil Haslett, and Shriram Bhashyam.
Revenue is generated primarily through transaction fees on private share trades. Post-acquisition, Morgan Stanley reduced fees from 5% to 2.5% for both buyers and sellers — described as industry-lowest (against competitors like Forge Global at 5%) and a deliberate lever to broaden participation. The $5,000 minimum investment threshold further lowers the access barrier compared to typical private-secondary minimums of $50,000–$100,000. Customer segments comprise three groups: accredited retail investors (income above $200,000/year or net worth exceeding $1 million) seeking pre-IPO exposure, employees and early investors in private companies seeking liquidity for concentrated equity positions, and Morgan Stanley wealth management clients served through the firm's advisor channel. The go-to-market pairs a self-serve digital interface for individual investors with a sales-led motion routed through Morgan Stanley Wealth Management advisors, the workplace channel (employees of private companies), E*TRADE integration, and a Yahoo Finance data-distribution partnership.
EquityZen has raised approximately $11.3M across six rounds between 2014 and 2017 from investors including Draper Associates, WorldQuant Ventures, Kima Ventures, 500 Global, TSVC, and Click Ventures, and has operated capital-efficiently for years prior to acquisition. The senior executive team has been expanded to include a COO (Justin Howell), CMO (Jean Brandolini Lamb), CCO (Sujata Bose), and CSO/Co-founder (Phil Haslett), plus functional leaders across product, engineering, marketplace, and institutional investments. EquityZen received the 2025 FinTech Breakthrough "Best Retail Investment Platform" award.
EquityZen firmographics
Firmographics- Name
- EquityZen
- Legal name
- EquityZen
- Website
- https://equityzen.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Acquired
- Headcount range
- 101–250 employees
- Short description
- EquityZen is a private-shares marketplace that connects accredited retail investors seeking pre-IPO exposure with employees and early shareholders seeking liquidity, operating as a Morgan Stanley subsidiary following its January 2026 acquisition.
- Ownership category
- akta.pro rank
EquityZen industry classification
Industry- Product category
- Private Securities Marketplace
- NAICS
- Investment Banking and Securities Intermediation (52315)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Secondary Offerings & Share Sales (Secondary Placements) (FSACAAAG)
- akta.pro secondary industries
- Private Equity Fundraising Placement (FSAEALAB), Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)
Keywords
Where EquityZen is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
EquityZen business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees: EquityZen charges transaction fees on private share trades executed on its platform. Following Morgan Stanley's acquisition, fees were reduced from 5% to 2.5% for both buyers and sellers, described as industry-lowest. Fees apply to most transaction types including Express Deals.
- Platform Access: Minimum investment threshold of $5,000 for platform access, enabling investors to participate in private market transactions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Transaction Fee: 2.5% for both buyers and sellers |
| Unit Pricing | Pay-as-you-go | Minimum Investment: $5,000 |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
EquityZen product offering
Product offeringCore offering
EquityZen operates an online private shares marketplace where accredited investors buy and sell pre-IPO equity in venture-backed private companies. The platform supports secondary transactions, fund-interest sales (Express Deals), and provides analytical tools including a Private Market Map and Market Score for pre-IPO investment insights, with a $5,000 minimum investment and 2.5% transaction fees following Morgan Stanley's January 2026 acquisition.
Product overview
EquityZen operates as a private shares marketplace and pre-IPO investment platform, providing a suite of tools for secondary market transactions. The core EquityZen Platform enables investors to access private market investments and trade private company shares, while Express Deals facilitates selling fund interests to other investors. The platform offers analytical tools including Private Market Map and Market Score for pre-IPO investment visualization and insights. Following Morgan Stanley's acquisition in January 2026, the platform expanded with reduced transaction fees (from 5% to 2.5%) and a $5,000 minimum investment threshold through the Bid Feature.
Differentiator
Problem solved
Functional benefit
Products and services
- EquityZen Platform Core online marketplace that connects accredited buyers and sellers of pre-IPO equity in venture-backed private companies, enabling secondary market transactions in private shares with a $5,000 minimum investment and 2.5% transaction fees post-Morgan Stanley acquisition.
- Express Deals Expedited transaction capability enabling investors to sell fund interests to other investors on the EquityZen platform, providing enhanced liquidity for private market fund positions.
- Private Market Map and Market Score Visualization and data-driven insight tools that demystify pre-IPO investing, helping investors understand private market dynamics, company valuations, and market trends.
Companies that use EquityZen
Customer profileSegments3 records
Ideal customer profiles3 records
EquityZen technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature3 records
EquityZen partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Yahoo FinancecoreEquityZen partnered with Yahoo Finance to broaden access to private market data. The partnership enables Yahoo Finance users to access private securities listings and market insights, expanding EquityZen's reach to a broader investor audience through Yahoo Finance's established financial media platform.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
EquityZen competitors and assessment
Company assessmentDirect peers
- Forge Global: Forge Global is the largest private-shares marketplace and EquityZen's primary direct competitor. Both platforms connect buyers and sellers of pre-IPO equity in late-stage private companies and charge transaction fees — EquityZen at 2.5% and Forge at the standard 5%.
- Nasdaq Private Market: Nasdaq Private Market operates a regulated platform for secondary trading in private company shares, including tender offers and block trades. It is a direct competitor to EquityZen for institutional and issuer-led secondary transactions.
- Hiive: Hiive is a private-shares marketplace that connects buyers and sellers of pre-IPO equity with a structured auction format. It is an emerging direct competitor to EquityZen targeting similar accredited investors and sellers of late-stage private stock.
- SharesPost: SharesPost is one of the original private-shares marketplaces, providing accredited investors access to pre-IPO shares of tech companies. It competes directly with EquityZen in the same product category, though at smaller scale.
- Zanbato: Zanbato operates an institutional private-securities trading platform, providing ATS-like execution for blocks of pre-IPO shares. It is comparable to EquityZen's institutional-grade offering but historically serves institutional rather than retail investors.
Emerging players
- Carta: Carta is the dominant cap-table management platform for private companies and has expanded into secondary liquidity products (tender offers, secondaries). It is a partial competitor on the issuer/supply side and offers EquityZen-like cap-table management software.
- Equitybee: Equitybee facilitates pre-IPO investing by funding employees' option exercises in exchange for a share of future upside. While its model is distinct (no live secondary marketplace), it targets the same accredited-investor demand for pre-IPO exposure.
- Microventures: Microventures operates a regulated investment platform offering fractional access to private startup equity and secondary shares. It is an emerging player in the same pre-IPO retail-access category as EquityZen, though with a more curated offering.
Broad incumbents
- Goldman Sachs Private Shares (formerly Sigma X): Goldman Sachs Private Shares (acquired from Sigma Labs) offers accredited investors access to late-stage private company shares, integrated with Goldman's broader wealth platform. As a broad incumbent, it competes with EquityZen on distribution and institutional credibility.
Regional players
- Masterworks: Masterworks is a fractional-investing platform focused on blue-chip art rather than equity, but serves the same accredited-investor segment seeking access to previously institutional-only alternative assets. It is a thematic peer for retail alternative-investing distribution rather than a direct pre-IPO competitor.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
EquityZen social profiles
Digital presenceEquityZen financial estimates
Financial estimateRevenue estimate
Valuation estimate
EquityZen leadership team
Management profileNumber of profiles
Profiles7 records
EquityZen funding detail
Funding detailFunding overview
Funding rounds6 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EquityZen M&A and investment
M&A and investmentM&A
Investments39 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EquityZen
What does EquityZen do?
EquityZen operates an online private shares marketplace where accredited investors buy and sell pre-IPO equity in venture-backed private companies. The platform supports secondary transactions, fund-interest sales (Express Deals), and provides analytical tools including a Private Market Map and Market Score for pre-IPO investment insights, with a $5,000 minimum investment and 2.5% transaction fees following Morgan Stanley's January 2026 acquisition.
Is EquityZen a public or private company?
EquityZen is a private company. It is classified as corporate owned and is currently acquired.
When was EquityZen founded?
EquityZen was founded in 2013. It employs 101 to 250 people.
Where is EquityZen based?
EquityZen is headquartered in New York, United States, in the North America region.
How does EquityZen make money?
Two revenue lines are on record. Transaction Fees are the primary driver. The others are platform Access.
Who are EquityZen's main competitors?
Direct peers on record are Forge Global, Nasdaq Private Market, Hiive, SharesPost and Zanbato. Emerging players are Carta, Equitybee and Microventures. Goldman Sachs Private Shares (formerly Sigma X) is listed as a broad incumbent. Masterworks is listed as a regional player.
Does EquityZen have an API?
No public API is recorded for EquityZen.
What industry is EquityZen in?
EquityZen's product category is Private Securities Marketplace. Its primary akta.pro industry code is FSACAAAG, Secondary Offerings & Share Sales (Secondary Placements), with a secondary code of FSAEALAB, Private Equity Fundraising Placement. Its NAICS code is 52315 and its SIC code is 6211.