This startup tried to take on Carta. It just announced it's shutting down.

Pulley, a package that startups trust connected to way their funding, is shutting down aft 7 years.

The institution said successful a connection published connected its website connected Tuesday that it will cease operations aft December 8.

Pulley had raised much than $50 cardinal from investors, including Founders Fund, General Catalyst, Stripe, and 8VC. It antecedently tried to situation its much larger rival, Carta, successful the headdress array guidance business — package that helps companies way who owns shares and rumor caller equity arsenic they raise money.

As portion of the wind-down, Carta has agreed to thief move customers and is offering them a limited-time promotion, according to Pulley's statement.

Yin Wu started Pulley aft she sold an Android app called Echo to Microsoft successful 2015.

"Though this is the closing of 1 section I, on pinch galore of our strongest squad members, person nary volition of riding disconnected softly into the night," Wu wrote successful a LinkedIn station connected Tuesday. "There has ne'er been a amended clip to lick large problems. For the contiguous future, we are focused connected moving pinch Carta's squad to return attraction of our customers."

On Tuesday, founders posted screenshots of the email they received from Pulley.

"We person worked diligently to create a modulation scheme that ensures you won't acquisition immoderate disruptions arsenic we cease operations," the institution wrote successful the email. Customers who move to Carta will beryllium capable to support their existent Pulley pricing for the first year, and Carta will in installments immoderate unused information of their Pulley subscription.