\n<\/p>\n
Cap table management platform Pulley announced this week on its website<\/a> that it was shutting down, and its final day of operations and services will be December 8. In a twist, it said it has partnered with its rival, Carta, to offload customers; it\u2019s also redirecting prospective clients to Carta.\u00a0<\/p>\n Yin Wu, a serial founder and ex-Microsoftie, started building Pulley in 2020<\/span><\/a>\u00a0and went on to raise over $50 million\u00a0<\/span>from top investors, including General Catalyst, Stripe, and Founders Fund.<\/p>\n Pulley didn\u2019t offer a reason for the shutdown (we\u2019ve reached out to Wu for comment, but she didn\u2019t immediately respond). However, a former employee speculated online<\/a> that Pulley wasn\u2019t 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.<\/p>\n In a statement posted to LinkedIn, Wu thanked her team and backers, writing that \u201cthough 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.\u201d\u00a0<\/p>\n \u201cThere has never been a better time to solve big problems,\u201d she continued. \u201cThank you again to everyone who supported us over the years.\u201d\u00a0<\/p>\n<\/div>\n