The Long-Term Stock Exchange (LTSE) has gained its first listing commitments from Asana and Twilio. Both companies are expected to list on LTSE on August 26, 2021 via dual public listings of their common stock.
The LTSE launched in September 2020 after gaining approval from the SEC in May 2019. The exchange’s principles-based listing standards prioritize long-term actions and promote transparency by requiring listed companies to detail and publish policies that offer stakeholders insight into how a company builds its business for the long term.
‘Both Asana and Twilio demonstrate the kind of governance and growth that will help build a better future for everyone,’ says Eric Ries, founder and CEO of LTSE Group.
Asana is a work management platform and Twilio is a cloud communications and customer engagement platform.
‘Our focus has always been on creating sustainable value for all our stakeholders. We’re just scratching the surface of a generational opportunity, and we look forward to joining a community of stakeholders that share our commitment to long-term growth,’ says Jeff Lawson, co-founder and CEO of Twilio.
In a statement, Dustin Moskovitz, co-founder and CEO of Asana, outlines the company’s mission. ‘By listing on the LTSE we are elevating our public commitment to our long-term view, further developing our structures to execute on our strategies and aligning even more with our stakeholders, who share similar values,’ he says.
Last year, Michelle Greene, who was serving as president and is now a board director at LTSE, told IR Magazine: ‘What we’re trying to do is change behavior and create a different way of being public, and a recognition that the alignment between a long-term investor and a company is what should guide that relationship. Success to us is changing the way the markets work and creating long-term value in the markets.’