Forge’s SPAC deal is a bet on unicorn illiquidity

As Warby Parker, Freshworks, Amplitude and Toast look to list in the coming weeks, we shouldn’t forget the SPAC boom. This week, for example, Forge Global (Forge), a technology startup that operates a market for secondary transactions in private companies, announced that it would go public via a blank-check combination.

And while we’re not unpacking every single SPAC combination that crosses our radar, the Forge deal is a good one to spend time parsing.

The Exchange explores startups, markets and money.

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Why? Several reasons. First, we’re curious about how the company generates revenue

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