How to buy shares pre-IPO?

Pre-IPO sales are limited to "accredited investors," people with a demonstrated net worth of $1 million or a yearly income of $200,000. It's been that way since 1982, when Rule 501 of Regulation D of the Securities Act went into effect.

https://www.wired.com/2010/07/st-essay-pre-ipo/#:~:text=Pre%....

In other words, the rich get richer ;)

Take a look at this: https://www.fidelity.com/learning-center/trading-investing/t...

At the end of the day though, the allocation prior to trading starting in the secondary market is almost entirely discretionary on the part of the issuer and underwriters, and hard to access for the small-fry investor especially if there is a lot of interest.

The real key to buying pre-ipo shares is having the right friends - you have to be accredited, but that doesn't really get you access. Realistically, the CEO / influential board members has(have) to be convinced to let you buy in a secondary offering...just b/c you are accredited doesn't mean anyone has to let you buy.

Very few companies allow individuals to make unapproved resale of shares through the secondary markets and it's fairly uncommon for a board to approve those types of requests. The typical way it happens is there is a secondary offering, or new funding, and they let in people they want in.

One way to do so via a public company is to invest in: TriplePoint Venture Growth BDC Corp. (TPVG)

They make late stage investments in private companies. Read a few of their quarterly reports to get an idea of their recent deals.

There is no reliable way I know of to cherry-pick individual companies like AirBnB unless you are an accredited investor.