The firm reportedly had fewer than 500 shareholders at the end of last year, including employees and venture capitalists, so it is no doubt hoping to avoid having its arm twisted.

据说他很希望能够把公开上市推得越迟越好。据说此公司去年年底只有不到500个持股人，包括员工和风险投资者，无疑，它是想避免被束缚手脚。

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At its peak, the venture had eight operating companies and more than 1,000 employees. It was a high profile affair.

在鼎盛时期，这个合资企业旗下有8家运营公司和1,000多名员工，很是风光。

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At its peak, the venture had eight operating companies and more than 1, 000 employees. It was a high profile affair.

在鼎盛时期，这个合资企业旗下有8家运营公司和1,000多名员工，很是风光。

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We have private equity, we have venture capital, and we have employees getting incentive options.

例如私人权益，风险投资，还有用于激励员工的期权工具。

耶鲁公开课 - 金融市场课程节选

In yet another sign of the growing influence of the secondary markets, Alex Ferrara, a partner at Bessemer Venture Partners, is leaving the top-tier venture capital firm to join Millennium Technology Value Partners, a firm that buys private shares from employees and venture investors in companies like Facebook, Twitter, and eHarmony.

FORBES: Partner at Bessemer Ventures To Leave For Secondary Shares Firm

The firm reportedly had fewer than 500 shareholders at the end of last year, including employees and venture capitalists, so it is no doubt hoping to avoid having its arm twisted.

ECONOMIST: And will its new financing scheme fall foul of regulators?

For those that are unfamiliar to IPOs and in particular lock-up expirations, as part of early standard startup procedures, companies will typically issue millions of shares to (among others) employees, venture capitalists and mezzanine investors.

FORBES: Why Facebook Still Defies Common Sense