Pulley to Shut Down on Dec. 8 After Raising $50 Million, Ceding Customers to Carta
Updated
Updated · Business Insider · Sep 15
Pulley to Shut Down on Dec. 8 After Raising $50 Million, Ceding Customers to Carta
3 articles · Updated · Business Insider · Sep 15
Summary
Pulley said it will cease operations after Dec. 8, ending a seven-year run as a cap-table software provider for startups.
More than $50 million in backing from Founders Fund, General Catalyst, Stripe and 8VC was not enough to overcome competition from much larger rival Carta, the company said.
Carta has agreed to help transition customers, offering a limited-time promotion, first-year pricing at current Pulley rates and credits for unused Pulley subscriptions.
Yin Wu, who founded Pulley after selling Android app Echo to Microsoft in 2015, said she and several team members plan to keep pursuing new problems after the shutdown.