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.