The Long-Term Stock Exchange

The Long-Term Stock Exchange

The Long-Term Stock Exchange is a financial services company and Securities Exchange.

The Long-Term Stock Exchange (LTSE) started as an idea in Eric Ries's 2011 book The Lean Startup. He had hoped someone would take the idea and run with it. No one did. In 2015, Eric Ries and John Bautista founded LTSE. Ries believes the volatility of traditional markets where increasing per-quarter share price is dominant cuts the motivation for long term growth. Ries said in an interview with Vox,

That whole complex – of the beat-and-raise game and therefore companies going public later and therefore the public being locked out of growth and all these macro trends that relate to the economy – I think they share common causes. And I'm not grandiose enough to think this one reform will solve the whole thing. But if we're going to have a capitalism 2.0, it's going to need a capital market to be listed on.

As the name suggests, the LTSE aims to exchange which combats short-term thinking and investing in favor of long-term shareholding and long-term thinking. To do this, LTSE has a rule-book which gives incentive to long-term share-holding through increased voting power, restricts the short-term incentives given to executives, a board-level long-term product and strategy committee to focus on issues of governance and sustainability and additional disclosures.

Products

LTSE also offers financial products to help bring companies to their IPO. These include

Captable

This is a free equity management and planning tool meant to help companies structure and record company ownership, collaborate with stakeholders and model future investment rounds.

Fast409A

Offers a 409A valuation.

StartupRunway

A tool to plan and manage finances, explore scenarios and track planned versus actual spending.

HiringPlan

A headcount planning tool with built-in market data to help adopt a structured compensation plan while preserving cash and equity runway.

StartupDisclosure

Helps investors request, manage and aggregate portfolio information.

NoteGenie

A calculator for exploring the impact of convertible notes and SAFEs on founder ownership.

IPO Ready

A guided assessment of a company's readiness to go public.

TLDROptions

A tool to help employees value their stock options.

Timeline

August 29, 2019

LTSE raises $50 million

August 2019

The Long-Term Stock Exchange raises a $50,000,000 series B round from Obvious Ventures, Initialized Capital, Andreessen Horowitz and Founders Fund.

Funding rounds

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People

Name
Role
LinkedIn

Beth Andres-Beck

Software Eng Manager

Carolyn Dee

Fin Markets and Policy

Leslie Castellanos

Software Engineer

Lydia Doll

Director of Global Customer Development

Martin Alvarez

Chief Commercial Officer

Mirna De Jesus

Software Engineer

Pavrita Bhalla

Product Engineering Lead

Ray Shan

Director of Product Management

Steve Goldstein

Chief Marketing Officer

Teagan Russell

Operations Coordinator

Tsehaynesh Abebe

Special Assistant to the CEO

Further reading

Title
Author
Link
Type
Date

Long-Term Stock Exchange, Inc.; Notice of FIling for Application for Registration as a National Securities Exchange

November 30, 2018

Securities and Exchange Commission, In the Matter of the Application of Long Term Stock Exchange, Inc. for Registration as a National Securities Exchange

May 10, 2019

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

References

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