Nasdaq (NASDAQ: NDAQ) has launched exclusive access to the Nasdaq Private Market’s Tape D® API, a groundbreaking move set to redefine transparency and valuation visibility in the private company landscape.
This initiative, announced on June 4, 2025, positions Nasdaq at the forefront of bridging the information gap between public and private markets, offering institutional investors, banks, advisors, and private companies unprecedented access to real-time pricing and valuation data for private, pre-IPO firms—including the world’s leading unicorns.
Tape D® is now available to Nasdaq clients through seamless API integration via Nasdaq Data Link. The dataset consolidates primary funding round data, secondary market transactions, mutual fund marks, and 409A valuations, delivering a holistic and dynamic view of private market pricing.
This comprehensive approach addresses a critical need in today’s investment environment, where over 1,200 unicorns and billions in private equity are held outside public exchanges. The lack of reliable, timely valuation benchmarks has long challenged investors and companies seeking to price assets, structure transactions, and manage liquidity.
By leveraging Tape D®, users gain:
- Real-time estimated prices and daily price histories for thousands of private companies.
- Aggregated data from closed secondary trades, bid/offer history, and mutual fund marks.
- Detailed insights into primary rounds, cap tables, and 409A valuations.
- Portfolio analysis tools and advanced scenario-based waterfall analysis for exit planning.
Nasdaq’s exclusive distribution of the Tape D® API is a strategic expansion of its data services, building on its legacy of technological innovation in public markets. The collaboration with Nasdaq Private Market underscores a commitment to making private markets as efficient and transparent as their public counterparts.
According to Nasdaq executives, this partnership is designed to empower market participants with the tools needed for confident decision-making, whether evaluating private holdings, structuring transactions, or planning capital raises and tender offers.
The launch of Tape D® is part of Nasdaq’s broader effort to enhance transparency, access, and portfolio management across the investment spectrum. Complementary offerings such as Nasdaq Fund Secondaries further streamline secondary transactions, bringing greater efficiency and scalability to an increasingly complex market.
With this initiative, Nasdaq is setting a new standard for data-driven decision-making in private markets, providing critical infrastructure that supports the evolving needs of global investors and private companies alike.
