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Founded Year

2015

Total Raised

$68.73M

Mosaic Score

+100 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About LTSE

LTSE (Long-Term Stock Exchange) represents an approach to governance designed for the mutual benefit of companies and investors. Through a collection of listing standards, software tools, and advocacy, the company is focused on the public company experience by introducing approaches to executive compensation, shareholder voting, disclosure practices, board and stakeholder policies, and community governance.

LTSE Headquarter Location

340 S. Lemon Avenue Suite 2197

Walnut, California, 91789,

United States

415-763-5178

Latest LTSE News

Asana And Twilio Joined Eric Ries’ Long-Term Stock Exchange. ‘The Lean Startup’ Author Says That’s Just The Start.

Jul 16, 2021

Courtesy of Eric Ries In late June, two public companies, Asana and Twilio, announced plans to list on an alternative exchange, called the Long-Term Stock Exchange, which seeks to encourage long-term thinking by public companies by aligning them with like-minded investors. ADVERTISEMENT Both already public companies, Asana’s and Twilio’s CEOs Dustin Moskovitz and Jeff Lawson already had close ties to LTSE creator Eric Ries, author of “The Lean Startup.” But neither is a market lightweight. Shares in Asana, which offers workplace software, are up 127% over the past year, giving Moskovitz’s business a market cap of about $11 billion. Twilio, meanwhile, has seen its cloud communications software appreciate 68% over the last year, good for a market cap of $64 billion. In an interview, highlights of which were first reported in the Midas Touch newsletter , Ries laid out his vision for the LTSE and why he expects more companies, including those led by strangers, to join over time. Imagine a hypothetical stock exchange running in parallel to Nasdaq and NYSE, only the buyers are locked into five-year or ten-year trades trackable and visible to the public. That’s roughly what Ries envisioned a decade ago — and it’s not what the LTSE is today. That’s because to legally function as a registered exchange, LTSE must participate in facilitating trades of every stock listed; it can’t list shares exclusive to its fief, nor limit trading of any stocks. What the LTSE can do: certify companies, alongside broker-dealer overseer FINRA, that promise to take measurable steps to commit to LTSE’s five principles focused on long-term sustainability, growth and success. Buyers of LTSE-listed stock can then choose to identify themselves through Ries’ business, which also offers software to companies to try to track the ownership of its stock. MORE FOR YOU Participating companies have to provide agreed-upon, measurable metrics by which they will adhere to LTSE’s principles, Ries says. Those principles include provisions around stakeholders, long-term strategy, executive and board compensation, board makeup and oversight, and investor relations. Failure to adhere is punishable akin to securities fraud. “This is a way for companies to make promises that the public can believe,” Ries says. Meanwhile, LTSE is itself a software business, too. Ries and team offer software to companies to track their performance on such goals and have a better sense of who their investor base is. Investors who declare themselves through LTSE as long-term holders are more likely to gain influence with the companies they back, Ries argues: “Investors want to be able to talk to companies and be taken seriously.” The LTSE has legally been able to solicit participants since last fall. And its no coincidence that the first two to sign up were Asana and Twilio. Ries invested personally in Asana, while Moskovitz and Lawson invested personally in the LTSE. But while both companies’ CEOs had a level of trust in Ries and what he was building, they recused themselves from the diligence process, according to Ries. ADVERTISEMENT “I’m flattered by the idea that they would like me so much that they would put their multi-billion dollar enterprises and net worth at risk out of personal loyalty to me,” he says. LTSE is no non-profit. But its creator Ries argues that his brand of stakeholder capitalism is part of a higher-stakes battle. “We have a civilization on a collision course with physics. There are catastrophic outcomes in our not-too-distant future, unless we make really significant changes,” he says. And it’s no surprise the investor and startup adviser believes a big part of the answer is tech companies. “This is about creating financial infrastructure to keep that spirit [of innovation] alive, even as they become a public company,” he says. But such ambitions set up LTSE for a high bar of success. There’s the business, which will need more companies to sign up and pay for LTSE’s software services, without any personal loyalty to Ries. And then there’s its impact. Will companies be able to trace changes in their strategy back to participation in the LTSE? That might have been easier if Ries’ original vision for such an exchange were feasible. ADVERTISEMENT The even bigger question: whether such policies by publicly-traded companies can prove measurable drivers of whatever changes would be needed to avert such “catastrophe,” social, political, climate or otherwise. Follow me on  Twitter  or  LinkedIn . Send me a secure  tip .

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Research containing LTSE

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned LTSE in 1 CB Insights research brief, most recently on Oct 26, 2020.

Expert Collections containing LTSE

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

LTSE is included in 6 Expert Collections, including Smart Money VCs (2017-2019).

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

F

Fintech 250

248 items

C

Capital Markets Tech

1,300 items

Companies in the capital markets tech space are providing software and/or services for investment banks, hedge funds, investment managers, and so forth. Companies included use technology across the front, middle, and back-offices and streamline all pre- and post-trade operations.

2

2018 Fintech 250

250 items

250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

F

Fintech

6,974 items

US-based companies

F

Fintech 250 (2020)

250 items

250 of the top fintech companies transforming financial services

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