3 ms·

Pulley is shutting down in December

21 points by jschorr 17d ago

toomuchtodo 17d ago
https://www.ycombinator.com/companies/pulley https://www.ycombinator.com/companies/pulley (YC W20) https://www.ycombinator.com/launches/Gha-pulley-cap-table-management-for-founders-employees https://www.ycombinator.com/launches/Gha-pulley-cap-table-ma... https://pulley2025.pulley.com/guides/faq-what-is-happening-with-pulleys-shutdown https://pulley2025.pulley.com/guides/faq-what-is-happening-w... https://www.crunchbase.com/organization/pulley https://www.crunchbase.com/organization/pulley
jparishy 17d ago
Anyone know what happened? Just got the email too.
dm8 17d ago
This was so random. There are only two reasons for shutdowns in fintech. 1 - you run out of money. 2. some sort of regulatory/underwriting/compliance issues. I hope its former.
kreutz 17d ago
We got this too. Nothing about it anywhere. Very odd
paopao88 17d ago
[dead]
kimhansenyeah 17d ago
Disclosure up front: I run Cake, a competitor. Weigh what I say accordingly. I don't know why Pulley is winding down and I'm not going to guess. What their notice says is that operations cease on 12/8/26 and there's an exclusive migration path into Carta. The practical part, if you just got that email: you have about twelve weeks, and you don't have to take the default. Before you move anywhere, export everything while your account is still live. Cap table, every grant document, vesting schedules, 409A reports, board consents, audit trail. Keep your own copy no matter where you end up. Not doing this can make you regret it in an audit a couple of years later. Then three questions worth asking whoever you move to, us included: 1. Does historical grant data come across, or only current positions? Those are different, and the second one breaks your ASC 718 reporting. 2. Who does the migration work, you or them, and what does it cost? 3. What happens to 409A history and the audit trail specifically? Happy to answer questions here, including about providers that aren't mine. kim@cakeequity.com if that's easier.
nojvek 17d ago
I interviewed at pulley many years ago. Smart folks. Wonder what went wrong. Yin Wu seemed pretty smart. Already a serial entrepreneur.
- toomuchtodo 16d ago
  Most startups fail (~90%). Being smart is orthogonal to success. Some are lucky, most are not.
deleted 16d ago
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deleted 16d ago
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cashflowportal 16d ago
I’m sorry to hear this. We ourselves are on Pulley, having switched from Carta. Cash Flow Portal is a private equity real estate cap table management software: cashflowportal.com. With this news, we may morph our product to help startup founders. If any companies want to take a look, let’s chat via https://calendly.com/perry-zheng-cash-flow-portal/1-on-1 https://calendly.com/perry-zheng-cash-flow-portal/1-on-1.
Tomas_Milar 16d ago
[dead]
Tomas_Milar 16d ago
Hi Guys, Founder of Eqvista - captable & 409A valuation provider - fully commercial post. For ex-Pulley clients, we offer: - White-glove migration - No Charge - First year of cap table management free - $500 off your first year’s 409A valuation plan - Migration in as little as 3–5 business days - Dedicated migration specialist - Year-2 price lock - Up to 70% less than Carta (soon-to-be-Pulley...) - Unlimited 409A Updates - Lifetime audit support I can be reached at: tom@eqvista.com The issue is that all captalbe companies get acquired. If you want to read more, please read my LinkedIn post here: https://www.linkedin.com/posts/tomasmilar_cap-table-companies-dont-last-they-almost- https://www.linkedin.com/posts/tomasmilar_cap-table-companie...

21 points by jschorr 17d ago

https://www.ycombinator.com/companies/pulley https://www.ycombinator.com/companies/pulley (YC W20) https://www.ycombinator.com/launches/Gha-pulley-cap-table-management-for-founders-employees https://www.ycombinator.com/launches/Gha-pulley-cap-table-ma... https://pulley2025.pulley.com/guides/faq-what-is-happening-with-pulleys-shutdown https://pulley2025.pulley.com/guides/faq-what-is-happening-w... https://www.crunchbase.com/organization/pulley https://www.crunchbase.com/organization/pulley

jparishy 17d ago

Anyone know what happened? Just got the email too.

dm8 17d ago

This was so random. There are only two reasons for shutdowns in fintech. 1 - you run out of money. 2. some sort of regulatory/underwriting/compliance issues. I hope its former.

kreutz 17d ago

We got this too. Nothing about it anywhere. Very odd

paopao88 17d ago

[dead]

kimhansenyeah 17d ago

Disclosure up front: I run Cake, a competitor. Weigh what I say accordingly. I don't know why Pulley is winding down and I'm not going to guess. What their notice says is that operations cease on 12/8/26 and there's an exclusive migration path into Carta. The practical part, if you just got that email: you have about twelve weeks, and you don't have to take the default. Before you move anywhere, export everything while your account is still live. Cap table, every grant document, vesting schedules, 409A reports, board consents, audit trail. Keep your own copy no matter where you end up. Not doing this can make you regret it in an audit a couple of years later. Then three questions worth asking whoever you move to, us included: 1. Does historical grant data come across, or only current positions? Those are different, and the second one breaks your ASC 718 reporting. 2. Who does the migration work, you or them, and what does it cost? 3. What happens to 409A history and the audit trail specifically? Happy to answer questions here, including about providers that aren't mine. kim@cakeequity.com if that's easier.

nojvek 17d ago

I interviewed at pulley many years ago. Smart folks. Wonder what went wrong. Yin Wu seemed pretty smart. Already a serial entrepreneur.

toomuchtodo 16d ago
Most startups fail (~90%). Being smart is orthogonal to success. Some are lucky, most are not.

deleted 16d ago

[deleted]

deleted 16d ago

[deleted]

cashflowportal 16d ago

I’m sorry to hear this. We ourselves are on Pulley, having switched from Carta. Cash Flow Portal is a private equity real estate cap table management software: cashflowportal.com. With this news, we may morph our product to help startup founders. If any companies want to take a look, let’s chat via https://calendly.com/perry-zheng-cash-flow-portal/1-on-1 https://calendly.com/perry-zheng-cash-flow-portal/1-on-1.

Tomas_Milar 16d ago

[dead]

Tomas_Milar 16d ago

Hi Guys, Founder of Eqvista - captable & 409A valuation provider - fully commercial post. For ex-Pulley clients, we offer: - White-glove migration - No Charge - First year of cap table management free - $500 off your first year’s 409A valuation plan - Migration in as little as 3–5 business days - Dedicated migration specialist - Year-2 price lock - Up to 70% less than Carta (soon-to-be-Pulley...) - Unlimited 409A Updates - Lifetime audit support I can be reached at: tom@eqvista.com The issue is that all captalbe companies get acquired. If you want to read more, please read my LinkedIn post here: https://www.linkedin.com/posts/tomasmilar_cap-table-companies-dont-last-they-almost- https://www.linkedin.com/posts/tomasmilar_cap-table-companie...