Pulley shuts down cap table platform, hands customers to rival Carta
The cap table management startup founded by serial entrepreneur Yin Wu is closing its doors on December 8, directing both existing and prospective customers to competitor Carta.
Pulley, a cap table management platform, announced its closure this week, with operations ending on December 8. The company has struck a partnership with its direct competitor Carta to transition its customer base, and is also steering new prospects toward Carta instead.
Yin Wu, a repeat founder with a background at Microsoft, established Pulley in 2020 and secured over $50 million in funding from prominent backers including General Catalyst, Stripe, and Founders Fund.
The company provided no official explanation for the shutdown. A former staffer speculated publicly that Pulley's real challenge wasn't Carta but rather competing against basic spreadsheets, which startups can now maintain and enhance using AI tools.
Wu posted a statement on LinkedIn expressing gratitude to her team and investors. She said, "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."
She added, "There has never been a better time to solve big problems. Thank you again to everyone who supported us over the years."
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