Case Study
A Long-Term Partnership Built on Results: Asana and the Long-Term Stock Exchange
Being heard can be challenging, but Asana found a way to elevate its voice — by partnering with a stock exchange that shares its commitment to long-term value creation.
Asana’s vision for the future of work is the same vision that empowers its long-term strategy: helping humanity thrive by enabling the world's teams to work together effortlessly.
To that end, Asana’s flagship product — which bears its name — is a leading work management software platform that helps organizations set and track goals, drive strategic initiatives, and manage work in one place. Beyond its own focus on innovation, accessibility, and environmental sustainability, Asana supports thousands of mission-driven customers who leverage the product to achieve their goals.
Asana has always been committed to creating long-term value, and listing on the Long-Term Stock Exchange has helped to elevate this commitment and provide shareholders with specifically stated values and strategies. While over 4,000 public companies are listed on U.S. exchanges today, the Long-Term Stock Exchange estimates less than 10% to 15% demonstrate a verified commitment to long-term value¹, and most of those companies aren't getting the credit they deserve.
To that end, Asana’s flagship product — which bears its name — is a leading work management software platform that helps organizations set and track goals, drive strategic initiatives, and manage work in one place. Beyond its own focus on innovation, accessibility, and environmental sustainability, Asana supports thousands of mission-driven customers who leverage the product to achieve their goals.
Asana has always been committed to creating long-term value, and listing on the Long-Term Stock Exchange has helped to elevate this commitment and provide shareholders with specifically stated values and strategies. While over 4,000 public companies are listed on U.S. exchanges today, the Long-Term Stock Exchange estimates less than 10% to 15% demonstrate a verified commitment to long-term value¹, and most of those companies aren't getting the credit they deserve.
"By listing with the LTSE we are elevating our public commitment to our long term view, further developing our structures to execute on our strategies and aligning even more with public stakeholders who share similar values."
— Dustin Moskovitz,
Co-Founder and CEO, Asana
Co-Founder and CEO, Asana
Asana gets the credit it deserves on the Long-Term Stock Exchange
Asana was looking for ways to further accentuate its long-term focus — that’s where the Long-Term Stock Exchange came in.
The results of a survey conducted by LTSE were clear, strong, and swift. A vast majority of surveyed executives (88%) attending an Asana x LTSE event agreed that the Asana and LTSE partnership strengthens consideration for doing business with Asana.2 Partnership events between Asana and the LTSE in New York City and London saw 327% and 1,800% increases, respectively, in closed annual recurring revenue compared to the targets.3 Plus, Asana experienced a 266% increase in Requests for Proposal from values-aligned enterprise clients following LTSE’s partnership with Asana on its enhanced 2023 ESG Report.4
The benefits of listing did not stop with enterprise clients, though. Asana was finally getting the recognition its work warranted. It was also attracting long-term investors, with a 150% increase in long-term investor quality and a 118% improvement in long-term investor quality versus its public comparable group since listing, according to the LTSE's Long-Term Investor Score℠ methodology.* Those investors were more aligned with Asana’s mission; 52% of the company’s top 25 sub-fund holders demonstrated investment behavior significantly accretive to long-term investor quality.* And when investors got on board, they also got involved — Asana experienced a 75% investor response rate and 20% investor meeting rate across Q1-Q3 2023 outreach.*
The results of a survey conducted by LTSE were clear, strong, and swift. A vast majority of surveyed executives (88%) attending an Asana x LTSE event agreed that the Asana and LTSE partnership strengthens consideration for doing business with Asana.2 Partnership events between Asana and the LTSE in New York City and London saw 327% and 1,800% increases, respectively, in closed annual recurring revenue compared to the targets.3 Plus, Asana experienced a 266% increase in Requests for Proposal from values-aligned enterprise clients following LTSE’s partnership with Asana on its enhanced 2023 ESG Report.4
The benefits of listing did not stop with enterprise clients, though. Asana was finally getting the recognition its work warranted. It was also attracting long-term investors, with a 150% increase in long-term investor quality and a 118% improvement in long-term investor quality versus its public comparable group since listing, according to the LTSE's Long-Term Investor Score℠ methodology.* Those investors were more aligned with Asana’s mission; 52% of the company’s top 25 sub-fund holders demonstrated investment behavior significantly accretive to long-term investor quality.* And when investors got on board, they also got involved — Asana experienced a 75% investor response rate and 20% investor meeting rate across Q1-Q3 2023 outreach.*
LTSE methodology drives best-in-class long-term investor quality
Listing on the Long-Term Stock Exchange allows qualifying companies to authentically communicate their vision with stakeholders who share a passion for long-term value creation. These companies exemplify leadership and distinguish themselves as trailblazers of a new era, with like-minded long-term investors helping them take the next step forward.
150%
Increase in Asana’s long-term investor quality since listing on the Long-Term Stock Exchange. Asana is significantly outpacing its top industry competitor’s investor quality.*
118%
Improvement to Asana’s investor quality vs. Asana’s overall public comparable group since listing. In addition, investor quality now exceeds Asana’s publicly traded comparable group*
52%
Percentage of Asana’s Top 25 sub-fund holders whose long-term investment behavior is significantly accretive to long-term investor quality*
Asana outperforms top industry competitor
*Measured via the LTSE Long-Term Score℠ as applied to LTSE proprietary data-sets, FactSet, and relevant SEC filings, 2024
Partnership with LTSE expanded Asana's annual recurring revenue
LTSE and Asana collaborated to establish measurable outcomes that align with Asana's long-term strategy.
88%
Strongly Agree/Agree that the partnership between LTSE and Asana strengthens their consideration for doing business with Asana - New York Summit, 2023**
327%
of the closed annual recurring revenue target from clients who attended Asana and LTSE's Work Innovation Summit in New York City, 2023**
1,800%
of the closed annual recurring revenue target from clients who attended Asana and LTSE's Work Innovation Summit in London, 2023**
266%
Increase in RFPs from values-aligned enterprise clients following LTSE’s partnership with Asana on its enhanced 2023 ESG Report**
Top-tier Press
**Based on LTSE and Asana tracking data, 2024
Listing on the Long-Term Stock Exchange signals a long-term focus
Companies that list on the Long-Term Stock Exchange take an active leadership role in voicing their approach and commitment to long-term strategy. Guided by the Long-Term Stock Exchange, companies like Asana codify their own practices to ensure accountability and a strong future focus. This effort helps underscore the work that companies like Asana are doing and provides a clear outlook for investors who want to ensure their values are aligned with a company’s strategy.
Listing is easier than expected
In recalling the listing process, Eleanor Lacey, Head of Legal and General Counsel of Asana, said, “As we were thinking through our listing, it was obvious that our values and our goals as a company were quite aligned with the goals of the Long-Term Stock Exchange. However, I was concerned about how much overhead it would create for our department and how we would align our values and the goals of the Long-Term Stock Exchange, which I really liked, with the very clear practicalities of being a public company. It was not and has not been a separate lift for our department. It’s not a lot of overhead. What we wanted to do was align ourselves – our employees, our policies, and our investors – with our long-term goals. This was another way to understand who our long-term investors were and to be able to focus on those long-term goals.”
A positive reaction from employees
Lacey also spoke about how Asana employees reacted to listing on the Long-Term Stock Exchange: “A nice outgrowth that has been more powerful than we anticipated is the employee reaction. As the world has changed and employees are more focused on what their companies are doing, there’s been a positive reaction from our employees that we have a place and a forum to talk about our long-term strategy. We’ve made a very public commitment to it. It’s not just a conversation internally — we have this other public commitment we’ve made and we’re putting resources into the form of supporting a listing on the Long-Term Stock Exchange. It also allowed us to connect with other companies that were like-minded.”5
“It was not and has not been a separate lift for our department. It’s not a lot of overhead.”
— Eleanor Lacey,
Asana Head of Legal and General Counsel
Asana Head of Legal and General Counsel
“Leaps of progress require not just work, but the courage to lead. This creates businesses and legacies that persevere. Dustin Moskovitz of Asana believes that ‘when we work together, we can do great things — things that contribute to a better life for people and the planet.’”
— Eric Ries,
Founder and Executive Chairman of LTSE
Founder and Executive Chairman of LTSE
A long-term partnership built on results
Asana wasn’t getting all the recognition it deserved for the work it was already doing and the long-term value that it was generating. By listing with the Long-Term Stock Exchange, Asana broke through the short-term noise with significant improvements in RFPs, annual recurring revenue, long-term investor quality, and investor engagement.
It can be hard to be heard, but it’s not impossible. Sometimes all it takes is the right partner.
It can be hard to be heard, but it’s not impossible. Sometimes all it takes is the right partner.
Benefits of listing on the Long-Term Stock Exchange
The Long-Term Stock Exchange differentiates companies to help them get the credit they deserve from critical long-term stakeholders.
Your company will have one ticker symbol across exchanges – listing on the
Long-Term Stock Exchange is 100% compatible with incumbent U.S. exchanges and does not negatively impact liquidity.
Listing on the Long-Term Stock exchange is a straightforward process for companies already doing the work that comes with long-term leadership.
For more information
For additional case studies, resources, and more information about how listing on the Long-Term Stock Exchange can be good for your business, good for shareholders, and good for the investor community, email listings@ltse.com.
Contact Listings TeamAbout Asana
Asana is the #1 AI work management platform driving greater clarity, and impact at scale.
Powered by the Work Graph®, the most complete and connected map of an organization's work, Asana is where work connects to goals. Over 150,000 customers like Amazon, Accenture, and Suzuki rely on Asana to manage and automate everything from goal setting and tracking to capacity planning to product launches.
Powered by the Work Graph®, the most complete and connected map of an organization's work, Asana is where work connects to goals. Over 150,000 customers like Amazon, Accenture, and Suzuki rely on Asana to manage and automate everything from goal setting and tracking to capacity planning to product launches.
Disclaimer
The information contained above is provided for informational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Readers should consult their own tax, legal, accounting or investment advisors.
Many of the services outlined in this document are provided by LTSE Services, Inc. LTSE Services and its affiliates, including the Long-Term Stock Exchange, Inc., which is a registered national securities exchange under the provisions of the Securities Exchange Act, do not provide tax, legal, accounting or investment banking or investment advisory services or advice.
Companies are not required to adopt or purchase any tools or services from LTSE Services in order to apply to list on the Long-Term Stock Exchange. Companies can customize their long-term policies; however, only the Exchange’s independent regulatory staff can determine whether proposed policies meet the principles-based requirements for listing under Exchange rules. Exchange rules differentiate between the products and services that it can offer to prospective listed companies and those that are available to companies currently or newly listed on the Exchange.
Neither LTSE nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding LTSE-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results.
© 2024 LTSE Services, Inc.
Many of the services outlined in this document are provided by LTSE Services, Inc. LTSE Services and its affiliates, including the Long-Term Stock Exchange, Inc., which is a registered national securities exchange under the provisions of the Securities Exchange Act, do not provide tax, legal, accounting or investment banking or investment advisory services or advice.
Companies are not required to adopt or purchase any tools or services from LTSE Services in order to apply to list on the Long-Term Stock Exchange. Companies can customize their long-term policies; however, only the Exchange’s independent regulatory staff can determine whether proposed policies meet the principles-based requirements for listing under Exchange rules. Exchange rules differentiate between the products and services that it can offer to prospective listed companies and those that are available to companies currently or newly listed on the Exchange.
Neither LTSE nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding LTSE-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results.
© 2024 LTSE Services, Inc.
References
- Based on an internal analysis conducted by LTSE Services, Inc., in January 2024.
- Based on LTSE and Asana tracking data, 2024.
- Ibid.
- Ibid.
- “Understanding LTSE Listings," The Corporate Counsel Webcast, December 8, 2021.