- Asana (ASAN -2.4%) and Twilio (TWLO +0.8%) today became the first companies to list on the Long-Term Stock Exchange two years after the principle-driven Silicon Valley exchange was founded.
- The Long-Term Stock Exchange, or LTSE, requires listed companies to "detail and publish policies on their website that offer stakeholders insight into how a company builds its business for the long term." The public market says it promotes "sustainability, resilience, and the creation of value over time."
- Work management platform Asana (NYSE:ASAN), with an over $12 billion market cap on the NYSE, is "further developing the structures and reporting discipline to align our mission with our key stakeholders — ensuring that our vision endures and that we maximize our benefit to the world," according to a statement from co-founder and CEO Dustin Moskovitz.
- Cloud communications and customer engagement platform Twilio (NYSE:TWLO) has a nearly $64 billion market cap and says the dual LTSE listing will "align us with investors and peers that share our values and long-term vision," says co-founder and CEO Jeff Lawson. Both Lawson and Moskovitz were early investors in the LTSE.
- News that Asana and Twilio would join the LTSE first broke in June.