Tag

Carta

All articles tagged with #carta

technology1 year ago

Founders Criticize Carta for Subscription Cancellation Hurdles

Some startup founders are criticizing Carta, a leading cap table management software provider, for making it difficult to cancel subscriptions. Founders like Sudarshan Sridharan and Adam Ryan have shared their struggles with scheduling cancellation meetings only available after their renewal dates. Carta attributes the issue to a "one-time staffing challenge" and insists on meetings to ensure proper data transfer. Competitors like AngelList and Pulley offer simpler cancellation processes without mandatory meetings. Despite the criticism, some users still praise Carta's product quality.

business-legal2 years ago

"Carta's Legal Woes and Silicon Valley Stumble: A Week in Review"

Carta, a financial technology company, is facing a new lawsuit from its former CTO, Jerry Talton, alleging financial misconduct, whistleblower retaliation, and defamation. The lawsuit details allegations of misuse of customer data, misleading employees about equity compensation, and favoring acquisitions of friends without due diligence. Carta had previously fired and sued Talton after discovering he secretly recorded conversations with CEO Henry Ward and others. The lawsuit also accuses Ward of burying complaints of sexual harassment and discrimination and retaliating against those who complained about misconduct. This latest lawsuit comes just days after Carta shut down its secondary trading business following allegations of misusing private customer data.

businesstech2 years ago

Carta's Controversies: Navigating the Aftermath

Carta, a cap table management startup, faced a PR nightmare after a sales employee used confidential data from a customer to craft a sales pitch for a secondary stock sale, leading to a shutdown of that business. Despite the breach, the company's annual recurring revenue was $373 million, with only $3 million from secondary sales, and its last primary round was raised in 2021 at a $7.4 billion valuation. While its current valuation is estimated to be about half of its last primary round, the company's growth over the last few years has been promising, even without the secondary markets business.

businesstech2 years ago

"Carta's Exit from Startup Stock Sales: Prioritizing Trust Amid Credibility Hit"

Carta, a cap table management software company, is exiting the secondary trading business after facing backlash for allegedly misusing customer information. The decision comes after a public complaint from a startup customer, Karri Saarinen, who accused Carta of reaching out to his company's investors without consent. Carta's CEO, Henry Ward, acknowledged the breach of trust and apologized, emphasizing the company's commitment to prioritizing trust. The move raises questions about Carta's valuation and future business strategy in the startup market.

business2 years ago

Carta Halts Stock Sales Amid Controversy

Carta, a company managing the cap table for thousands of startups, is exiting the startup stock trading business following a conflict of interest scandal. The move comes after allegations of using confidential data without approval from a customer. Carta's CEO announced the decision in a blog post, stating that the company will focus on its core business of cap table and fund administration software. The company has temporarily paused all sales outreach and is rethinking its involvement in the liquidity business amidst the scandal.

businesstech2 years ago

"Carta's Credibility Crisis: Startup Stock Sales Scandal Sparks Industry Upheaval"

Carta, a multi-billion dollar cap table management company, is facing criticism for using sensitive client information to target startup investors for its private stock exchange business, CartaX, without their consent. Leaked emails reveal that Carta marketed shares of other startups, including unicorn startups, without their permission. CEO Henry Ward claims it was an isolated incident, but concerns about conflicts of interest and misuse of client information persist, with former employees alleging they were fired for raising similar concerns.

technology2 years ago

"Carta CEO Investigates Allegations of Unethical Share Trading"

Carta, a Silicon Valley cap table management company, is accused of unethical behavior by a startup founder after a Carta employee reached out to an angel investor in the startup without consent, attempting to facilitate a secondary sale of shares. The founder accused Carta of misusing sensitive information and engaging in unauthorized outreach to investors. Despite Carta's apology and claims of an isolated incident, the founder and other affected parties remain skeptical, with concerns about the company's handling of customer data and its business practices. This incident adds to a series of bad publicity for Carta, including previous lawsuits and allegations of gender discrimination.

politics2 years ago

Free Rides to Polling Locations: Transportation Authorities Step Up for Election Day

The Charleston Area Regional Transportation Authority (CARTA) is offering free bus rides to polling locations on Election Day, allowing citizens without access to transportation to exercise their right to vote. Riders can inform their driver that they are traveling to or from their polling place to avail of the fare-free service. CARTA encourages everyone to vote and suggests using their system map to find the best route to their polling location.