A New Stock Exchange Built For Tech Startups As SEC Approves

The U.S. Securities and Exchange Commission assented to a new Silicon Valley stock market that could enable technology companies to go public more rapidly while giving them time to develop services and products.

Backed by leading Valley statistics such as venture capitalist Marc Andreessen, the Long-Term Stock Exchange was born out of concern in the nation’s tech elite who had been frustrated about the people market’s attention on near-term profit.

“We welcome the approval, which advances our vision of a new way of being public for a generation of companies that aspire to build their businesses and generate value for decades to come,”  the leading operations executive at the exchange, Zoran Perkov said in a news review.

“Some companies have signaled their intent to list on the exchange when it goes live, although LTSE creator Eric Ries has declined to name them. If there’s enough uptake, though, the platform could influence how the tech world goes public. Many companies wait for a decade or more (including Uber) before filing for an IPO, by which point their most dramatic growth is likely over.” as Engadget says.

The SEC, however, noted that no such”time-phased” voting rights were suggested in the LTSE’s program.

The LTSE hopes to start accepting listings and trading later this season after finishing technical and legislative steps.