Nasdaq Launches Exclusive Access to Nasdaq Private Market’s Tape D® API to Deliver Advanced Visibility into Private Markets
- Exclusive distribution rights for Tape D® API through Nasdaq Data Link platform
- Provides real-time pricing and valuation data for private companies, addressing critical market transparency needs
- Comprehensive data integration including primary rounds, secondary transactions, and accounting data
- Strategic expansion of Nasdaq's private market solutions portfolio
- None.
Insights
Nasdaq's Tape D API partnership creates unprecedented transparency in private markets, addressing a critical information gap for investors and advisors.
Nasdaq's exclusive distribution of Nasdaq Private Market's Tape D® API represents a significant development in private market infrastructure. This partnership addresses a fundamental challenge in the private investment ecosystem: the lack of reliable, real-time valuation data for private companies.
The launch of Tape D tackles a critical market inefficiency by consolidating multiple data sources - primary funding rounds, secondary transactions, mutual fund marks, and 409A valuations - into a comprehensive pricing dataset. With over 1,200 unicorns and billions in private equity, this solution fills a substantial information gap that has historically plagued investors, advisors, and companies themselves.
From a market structure perspective, this offering extends Nasdaq's public market data expertise into the opaque private company landscape. By bringing standardized data to private markets, Nasdaq is essentially creating a "pre-public" data infrastructure that could significantly improve price discovery, reduce information asymmetry, and enhance liquidity in secondary markets for private shares.
For institutional investors with private market exposure, the API integration through Nasdaq Data Link provides valuable portfolio visibility, potentially improving risk management and valuation processes. For banks and advisors structuring private transactions, this data could reduce friction and uncertainty in deal execution. Private companies themselves gain market intelligence for capital raises and liquidity events.
This initiative aligns with broader industry trends toward improving infrastructure around private company investments and secondary liquidity, addressing the growing importance of the pre-IPO ecosystem in today's capital markets.
Real-Time Private Company Dataset Offers Critical Pricing and Valuation Insights for Private Companies, Investors, and Advisors
NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) -- Nasdaq® (Nasdaq: NDAQ) announced today that the company has partnered with Nasdaq Private Market (NPM), a leading provider of secondary liquidity solutions to private companies, employees, and investors, to provide greater price transparency and valuation visibility into private, pre-IPO companies, including unicorns and other startups through NPM’s Tape D® private company dataset.
As the exclusive distributor of the Tape D API, Nasdaq is enhancing essential transparency and access to an increasingly complex private company landscape. Now available to Nasdaq clients through API integration via Nasdaq Data Link, Tape D addresses critical transparency challenges by helping investors evaluate private holdings with greater confidence, enabling banks to structure private transactions more effectively, supporting wealth advisors and shareholders in managing liquidity needs, and equipping private companies with valuable insights for capital raises and tender offers. This comprehensive data product delivers real-time private market pricing by seamlessly integrating primary round data, secondary market transactions, and accounting data including mutual fund marks and 409A valuations.
"Nasdaq was founded on the principle of leveraging technology to make markets more efficient, and we are committed to driving the same transformation in private markets that we've achieved in public markets," said Oliver Albers, Executive Vice President, Chief Product Officer, Capital Access Platforms at Nasdaq. "The collaboration with Nasdaq Private Market builds upon this foundation, reflecting Nasdaq’s continued commitment to creating an ecosystem where transparency, accessibility, and improved outcomes naturally extend across the entire investment lifecycle,” noted Albers.
"The private market is now a critical arena for valuation, investment, and planning, and requires accurate, real-time data. With over 1,200 unicorns and billions in equity held by private shareholders, the need for a reliable valuation benchmark is greater than ever. Tape D brings essential clarity to private markets, and we are excited to partner with Nasdaq to broaden access to market participants," said Marc Perkins, CFA, Senior Vice President of Product at Nasdaq Private Market. In addition to the Tape D API from Nasdaq, NPM offers individual subscriptions directly via NPM’s website.
The launch of this data partnership with Nasdaq Private Market marks the latest step in Nasdaq’s commitment to enhancing transparency, access, and portfolio management capabilities across the public-to-private investment spectrum. This includes offerings such as Nasdaq Fund Secondaries, which bring greater efficiency, transparency, and scalability to secondary transactions. Nasdaq also delivers solutions designed to equip asset owners and asset allocators with essential research and portfolio management tools that span both public and private markets. These enhancements address specific market challenges, helping managers clearly articulate their value propositions to gather assets while giving allocators the visibility they need for confident decision making.
For more information about accessing the Nasdaq Private Market Tape D Data API, please visit: https://www.nasdaq.com/solutions/data/equities/TAPED
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
Nasdaq® is a registered trademarks of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED. © 2025. Nasdaq, Inc. All Rights Reserved.
About Nasdaq Private Market
Nasdaq Private Market provides liquidity, wealth and data solutions for private companies, employees, and investors throughout each stage of the pre-IPO lifecycle. Since inception over a decade ago, NPM has executed nearly
Learn more at www.nasdaqprivatemarket.com. Visit LinkedIn and X for the latest company news.
Disclosures and Disclaimers
NPM is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner and does not offer legal or financial advice to any user of the NPM website or its services. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and member FINRA/SIPC. Transactions in securities conducted through NPM Securities, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC. Please read these other important disclosures and disclaimers about NPM found here: https://www.nasdaqprivatemarket.com/disclosures-disclaimer/
Contact:
Max Leitenberger
Corporate Communications, Nasdaq
Maximilian.leitenberger@nasdaq.com
Amanda Gold
Chief of Staff and Chief People Officer, Nasdaq Private Market
Amanda.Gold@npm.com
FAQ
What is Nasdaq's Tape D® API and what does it provide?
How will NDAQ's partnership with Nasdaq Private Market benefit investors?
What problem does Nasdaq's Tape D® API solve in the private markets?
How can clients access Nasdaq's Tape D® private market data?
What other private market solutions does NDAQ offer?
