# Pulley shuts down, hands customers to Carta

> The cap table management startup is closing after raising $50 million, redirecting users to its former rival.
- Title: Pulley shuts down, hands customers to Carta · TechCrunch
- Summary: The cap table management startup is closing after raising $50 million, redirecting users to its former rival. Even well-funded startups can fail when they…
- Keywords: pulley, carta, cap table management, startup shutdown, yin wu, general catalyst, stripe, founders fund, equity management, saas competition, technology, startups
- Source: TechCrunch — https://techcrunch.com/2026/09/16/pulley-a-carta-rival-is-shutting-down
- Author: Dominic-Madori Davis
- Published: 2026-09-16T21:23:19+00:00
- Read time: 1 min
- Topics: pulley, carta, cap table management, startup shutdown, yin wu, general catalyst, stripe, founders fund, equity management, saas competition, technology, startups
## Cap table startup Pulley is closing
Pulley announced it will shut down on December 8, 2026. The company raised over $50 million from top investors including General Catalyst, Stripe, and Founders Fund.
## Founded by serial entrepreneur Yin Wu
Yin Wu, a former Microsoft employee and serial founder, started Pulley in 2020. She thanked her team and investors in a LinkedIn statement, hinting at future ventures.

> There has never been a better time to solve big problems.
## Partnering with rival Carta
In an unexpected move, Pulley is partnering with Carta to transfer its customers. The company is also redirecting prospective clients to Carta instead of competing.
## Real competition was spreadsheets
Pulley didn't explain its shutdown, but a former employee suggested the real threat wasn't Carta but spreadsheets. AI tools now make it easy for startups to maintain spreadsheet-based cap tables.
## Startup equity tools face pressure
Pulley's failure shows how difficult it is to build a standalone business around cap table management when AI and spreadsheets offer cheaper solutions.
## Key takeaway

Even well-funded startups can fail when they can't differentiate from cheaper alternatives like spreadsheets and AI tools.