Cap table platform Pulley shuts down, redirects customers to rival Carta
Quick Look
- Pulley, a cap table management platform founded by Yin Wu, announced it will cease operations on December 8th and partner with rival Carta to transfer customers.
- The company raised over $50 million from investors including General Catalyst, Stripe, and Founders Fund.
- Wu stated she and key team members intend to continue solving big problems despite the shutdown.
AI-generated summary
Why It Matters
Pulley was founded in 2020 by Yin Wu, a former Microsoft employee, and raised over $50 million from prominent venture capital firms. It operated as a cap table management platform competing in the equity management software space.
Cap table management platform Pulley announced this week on its website that it was shutting down, and its final day of operations and services will be December 8th. In a twist, it said it has partnered with its rival, Carta, to offload customers; it’s also redirecting prospective clients to Carta.
Yin Wu, a serial founder and ex-Microsoftie, started building Pulley in 2020 and went on to raise over $50 million from top investors including General Catalyst, Stripe, and Founders Fund.
Pulley didn’t offer a reason for the shut down (we’ve reached out to Wu for comment, but she didn’t immediately respond). However, a former employee speculated online that Pulley wasn’t so much competing with Carta as it was with spreadsheets. And these days, startups can easily use AI to keep, improve and maintain their spreadsheets.
In a statement posted to LinkedIn, Wu thanked her team and backers, writing that “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.”
“There has never been a better time to solve big problems,” she continued. “Thank you again to everyone who supported us over the years.”
What to Watch
AI outlook — possibilities, not facts
Yin Wu and key team members will launch a new venture focused on solving big problems
Possible · Within months
Open Questions
- What specific factors led to Pulley's decision to shut down?
- What are the terms of the partnership with Carta for customer transfer?
- What are Yin Wu and her team's next professional ventures?
