They have just abruptly dethroned their long-serving editor, Stefan Aust.

ECONOMIST: A brave tale of journalists who sacked their editor

In recent months, Mr. Aust has been a frequent presence in Silicon Valley in a bid to win the listings of companies such as Facebook and Zynga Inc.

WSJ: Facebook to List on Nasdaq

"By combining our resources, expertise and reach with SharesPost's established technology, we will bring scale, efficiency and transparency to this marketplace, " Nasdaq Executive Vice President Bruce Aust said in a statement.

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Mr Aust had made Spiegel shine.

ECONOMIST: A brave tale of journalists who sacked their editor

"We call Silicon Valley Nasdaq country, " Bruce Aust, a Nasdaq executive vice president who heads listings, said in an interview that year.

WSJ: Facebook to List on Nasdaq