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Carta to exit secondary trading business

henrysward.medium.com

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Re: Carta to exit secondary trading business

#21

Post by threeseed »

notfried wrote: post #11
smt88 wrote: post #6

This is the best response, but remember it's a response to getting caught. They didn't grow a conscience or replace leadership. My company is still taking our business away from Carta, and I don't think anyone's plans should change because they repented after being caught. Things might be different if the CEO stepped down, but he hasn't yet.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

Pulley is what has been recommended in the past.

Re: Carta to exit secondary trading business

#22

Post by earnesti »

notfried wrote: post #11
smt88 wrote: post #6

This is the best response, but remember it's a response to getting caught. They didn't grow a conscience or replace leadership. My company is still taking our business away from Carta, and I don't think anyone's plans should change because they repented after being caught. Things might be different if the CEO stepped down, but he hasn't yet.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

What about an excel sheet?

Re: Carta to exit secondary trading business

#24

Post by o0-0o »

earnesti wrote: post #22
notfried wrote: post #11

Earlier quoted context omitted.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

What about an excel sheet?

I have a competitive product and excel is a very valid option but if you want automation for anything like this, you really need something like us hit me up on DM if you want a demo

Re: Carta to exit secondary trading business

#25

Post by Matticus_Rex »

notfried wrote: post #11
smt88 wrote: post #6

This is the best response, but remember it's a response to getting caught. They didn't grow a conscience or replace leadership. My company is still taking our business away from Carta, and I don't think anyone's plans should change because they repented after being caught. Things might be different if the CEO stepped down, but he hasn't yet.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

People in my network have recommended both Pulley and AngelList.

Re: Carta to exit secondary trading business

#26

Post by orionsbelt »

earnesti wrote: post #22
notfried wrote: post #11

Earlier quoted context omitted.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

What about an excel sheet?

Once you get past a handful of grants, every Excel cap table I've seen has been an absolute disaster. Use a software product. Both Carta and Pulley offer free versions, until you exceed certain limits (e.g. for Carta Launch, until you exceed $1M raised or 25 stakeholders). If you are over those limits, even more reason to use a software product and not Excel.

Re: Carta to exit secondary trading business

#27

Post by orionsbelt »

Matticus_Rex wrote: post #25
notfried wrote: post #11

Earlier quoted context omitted.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

People in my network have recommended both Pulley and AngelList.

Carta > Pulley >>> AngelList.

This is largely a result of how long each product has been available, i.e. the older products are more mature. Hopefully Pulley and AngelList continue to catch up so there is a diversity of good options available.

Re: Carta to exit secondary trading business

#28

Post by relaunched »

There is a lot of patting themselves on the back and no acknowledgement of wrongdoing. They got caught violating trust for an inconsequential revenue stream, at the expense of their biggest revenue stream's customer - so, we'll shut down the conflict.

Also, 409a is a conflict of interest, but since it doesn't negatively impact our biggest revenue streams, we'll keep doing it (at the expense of tax revenue).

Re: Carta to exit secondary trading business

#30

Post by thebradbain »

earnesti wrote: post #22
notfried wrote: post #11

Earlier quoted context omitted.

A quick search shows me a number of alternatives to Carta, but none that I have ever heard of or come across. Is there any competitor that is considered the second best? Carta just seems to me what everyone had been using without a second thought.

What about an excel sheet?

As an early employee at a startup from seed through a healthy Series B last year, I would have serious concerns about the company’s bookkeeping and how-up-to-date the shareholder information is if it were kept in an excel spread sheet on Google drive.

Carta and Pulley, etc. do a solve a valuable concern here for non-executives who are compensated with stock options and want to keep track of stock vesting, exercises, and shares in a transparent way, I’d say.

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