A private exchange for rich people and established financial firms means no public filing.

That limits the cost of raising capital for the companies listed as they don’t have the same regulatory requirements for publishing financials.

The problem is that most private companies are terrible or they are on track to becoming public. The companies that aren’t terrible and start out on here will likely go public at some point and outgrow this.

If you are an accredited investor and want pre-public secondaries this will be a way to do it.