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Silicon Valley's favorite stock exchange finally has its first listings

Twilio and Asana plan to dual-list their shares on the Long-Term Stock Exchange.

Eric Ries, sitting in a red chair

Silicon Valley's new stock exchange, the brainchild of author Eric Ries, has landed listings from Twilio and Asana.

Photo: LTSE

Twilio and Asana will be the first companies to dual-list their shares on the Long-Term Stock Exchange, according to the Wall Street Journal.

As part of listing on the LTSE, the companies will have to commit to policies around sustainability, diversity and long-term planning. LTSE opened in September and was able to start soliciting companies at the time, but was slow to land a company. Twilio and Asana will be the first this fall, but Expensify is also reportedly considering it, according to the Journal. Twilio CEO Jeff Lawson and Asana CEO Dustin Moskovitz were early investors in the exchange, which is backed by Silicon Valley heavyweights like Andreessen Horowitz, Founders Fund and Initialized Capital.

"I will view this as a success just if every company from now should have to consider it," LTSE CEO Eric Ries told Protocol when it opened. "Just like they have to consider where to list — they have to hear a pitch from NYSE, they have to hear pitch from Nasdaq — we just want them to hear our pitch, too."

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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