Aug 29, 2019 - Economy

The Long-Term Stock Exchange raises $50 million in new funding

Kia Kokalitcheva

The Long-Term Stock Exchange has raised $50 million in Series B funding led by Founders Fund, with new investors joining existing ones like Andreessen Horowitz, Obvious Ventures, and Initialized Capital.

Why it matters: Silicon Valley's big tech "startups" have increasingly delayed going public, in part because of the pressures of quarterly performance they must explain to stockholders. The LTSE, a brainchild of "Lean Startup" author Eric Ries, seeks to build a stock exchange without these traditional short-term pressures.

What's next: The company tells Axios that the U.S. Securities and Exchange Commission recently approved its standards. There's no word yet on when it plans to start operating, though a spokesman says that "early next year seems plausible."

When it does debut, it will likely start with just stock trading, though it could also have listings if interested companies' IPO timelines happen to line up.

Go deeper: Startups get a stock exchange

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The Long-Term Stock Exchange raises $50 million in new funding

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