Bulletins

Asana and Twilio list shares on Silicon Valley's Long-Term Stock Exchange

The companies agreed to a set of principles in order to list on the VC-backed exchange.

LTSE stamps

Instead of a bell ringing, Asana and Twilio received stamps to commemorate their dual listings on the LTSE.

Photo: LTSE

Nearly a year after the Long-Term Stock Exchange opened, Asana and Twilio will now be dual-listed on the NYSE and the LTSE, marking the first companies to do so.

In order to list on the LTSE, the companies had to agree to a set of five principles and publish policies, like compensation plans, that reward long-term thinking. While dual listing is more common for companies in foreign markets accessing new capital pools, the LTSE is designed for companies to access sets of investors who support their long-term vision.

Both Twilio CEO Jeff Lawson and Asana CEO Dustin Moskovitz were early investors in the exchange, which is backed by Silicon Valley heavyweights including Andreessen Horowitz, Founders Fund and Initialized Capital.

Biz Carson

Biz Carson ( @bizcarson) is a San Francisco-based reporter at Protocol, covering Silicon Valley with a focus on startups and venture capital. Previously, she reported for Forbes and was co-editor of Forbes Next Billion-Dollar Startups list. Before that, she worked for Business Insider, Gigaom, and Wired and started her career as a newspaper designer for Gannett.

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Bulletins