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Illustration:Rebecca Zisser/Axios

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

Go deeper

Updated 1 hour ago - World

Debris from Chinese rocket splashes back to Earth over Indian Ocean

The Long March-5B Y2 rocket, carrying the Tianhe module, blasts off from the Wenchang Spacecraft Launch Site in south China's Hainan Province, April 29. Photo: Zhang Liyun/Xinhua via Getty Images

Remnants of the Long March-5B Y2 rocket re-entered Earth's atmosphere over the Indian Ocean near the Maldives, officials in China announced Sunday morning Beijing time.

Details: Most of the rocket's debris burned up during the uncontrolled re-entry, the China Manned Space Engineering Office (CMSEO) said in a social media post. NASA administrator Bill Nelson accused China's government in a statement Saturday of "failing to meet responsible standards regarding their space debris."

Updated 2 hours ago - World

Death toll from vehicle bombing near school in Afghan capital rises to 58

People gather at the scene of the bombing. Photo: Haroon Sabawoon/Anadolu Agency via Getty Images

Officials in Afghanistan said Sunday the death toll from a vehicle bombing outside a school in the capital, Kabul, has risen to 58, and hospitals were treating "at least 150" wounded people, per Reuters.

Why it matters: Saturday's blast that killed multiple high school girls is at least the second to strike students in Afghanistan in a little over a week.

Trio of Saturday mass shootings rock U.S.

Police officers in New York City's Times Square on Saturday. Photo: David Dee Delgado/Getty Images

The U.S. was hit by mass shootings in New York City's Times Square, a shopping mall in Florida and at a townhome near Baltimore that left four people dead, including the suspected gunman.

The big picture: Since President Biden took office in January, over 700 people have been injured or killed in 139 mass shootings as of late last month.