Pulley, a platform specializing in cap table management, revealed on its website that it will cease operations on December 8. The company has arranged to transfer its existing customers to Carta, a leading competitor in the same space, and is directing potential new clients to Carta as well. Founded in 2020 by Yin Wu, a former Microsoft employee and serial entrepreneur, Pulley raised over $50 million from notable investors such as General Catalyst, Stripe, and Founders Fund. The company has not publicly disclosed the reasons behind its shutdown. However, a former employee suggested that Pulley’s main competition was not Carta but rather the widespread use of spreadsheets, which startups increasingly enhance with AI tools to manage and maintain their cap tables. In a LinkedIn statement, Wu expressed gratitude to the team and investors, emphasizing that despite closing this chapter, she and key team members plan to continue addressing significant challenges in the future. This development highlights the competitive pressures in the cap table management market and the evolving role of AI in simplifying financial operations for startups.