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      <image:title>Bull Venture Capital | Helping Founders &amp; Early Employees Get Liquidity by Selling Secondary Shares - What is a secondary transaction or secondary stock sale?</image:title>
      <image:caption>A secondary transaction is a stock sale that occurs between an existing shareholder and an investor. The main difference between a “primary” stock sale and a “secondary” stock sale is secondary stock is typically sold by an individual shareholder and not directly from the company itself. Shareholders seek liquidity for many different reasons and it does not always mean the seller is bearish on the company. One of the most common reasons for a secondary sale is the desire to take some money off the table while preparing for a life event such as getting married, having a baby, buying a house, paying off student loans or starting your next company.</image:caption>
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