NPM Launches Private Share Prices as Market for Data Grows

Nasdaq Private Market LLC is publicly launching a proprietary pricing product for private companies, joining an increasingly competitive space for data on potential IPO candidates.

For the past month, privately-held NPM has been showing off a product called Tape D to its own investors – Wall Street’s biggest banks. Now, the firm is unveiling its offering more broadly with a public launch on Thursday.

With companies like SpaceX and Stripe able to achieve eye-popping valuations without selling a single share in the public markets, providers like NPM and its rivals are competing to establish their products as the go-to reference. ...