Pulley, a Carta rival, is shutting down its platform
Cap table management platform Pulley is shutting down on December 8 after raising over $50 million, partnering with rival Carta to offload customers.
Stock photo for illustration only, not from the actual event
- Pulley announced its official shutdown with operations ending on December 8.
- The company partnered with its rival Carta to transition existing customers.
- Founder Yin Wu launched the startup in 2020 after leaving Microsoft.
- Pulley previously secured over $50 million from prominent investors.
Cap table management platform Pulley announced via its official website this week that it is shutting down operations, setting December 8 as its final day for services and platform availability. In a surprising strategic move, the company revealed a partnership with its direct rival, Carta, to offload its existing customer base and redirect prospective clients to the competitor.
Yin Wu, a serial entrepreneur and former Microsoft engineer, originally launched Pulley back in 2020. Over the course of its operations, the startup successfully raised more than $50 million in funding from top-tier investors, including General Catalyst, Stripe, and Founders Fund, reflecting strong early backing from the venture capital community.
Stock photo for illustration only, not from the actual event
In a statement published on LinkedIn, the founder expressed her gratitude to the team members and backers who supported the company throughout its journey, noting that this closure marks the end of a chapter rather than a permanent exit from the industry.
"Though this is the closing of one chapter, I, along with many of our strongest team members, have no intention of riding off quietly into the night."
Yin Wu
The wind-down of Pulley and its customer handover to Carta highlights the intense consolidation and economic pressures within the niche market of startup equity management software. By partnering with its main market rival to absorb users, the company ensures a smoother transition path for startups relying on critical cap table infrastructure.
Concluding her public remarks, Wu emphasized that there has never been a better time to tackle major problems and reiterated her appreciation to everyone who backed the venture over the years.
Source: TechCrunch
Found something wrong in this article? Report an issue with this article
Comments
Leave a Comment