Robert Leonard talks with Chris Lustrino about online private markets, equity crowdfunding, how to value, analyze, and rate private businesses as compared to publicly owned companies, and much, much more! Chris is Founder & CEO of KingsCrowd, the first ratings and analytics service for the online private markets. He has raised $2.5M from 2,100 investors to date and grown his business to over 350,000 subscribers and 20 full time staff. Prior to founding KingsCrowd, he worked on behalf of private equity clients at LEK Consulting from 2014 to 2017. He also founded Simple.Innovative.Change, a Fintech publication focused on alternative investments and lending, and was a finalist for the 2018 LendIt Fintech Journalist of the Year.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
03:29 - What an online private market is, what equity crowdfunding is, and how Title II of the JOBS Act made both possible
06:13 - What a ratings and analytics business does and how they remain objective when analyzing other private businesses
10:02 - What to look for when analyzing a private business and how it is different from analyzing a publicly traded company
13:47 - The red flags to watch out for when analyzing private companies and what specific security-type investments people should avoid
24:08 - What hidden gems to look for when assessing private companies that are raising money
29:49 - How Chris views diversification when investing in private companies and how important it is
32:24 - How returns in private businesses differ from traditional public stocks
37:29 - How private equity investors actually realize returns and how they get liquidity
42:23 - What SAFE is as an acronym (S-A-F-E), and not just the word “safe” as a security type
49:10 - What the difference between pre-money and post-money valuations is
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