Pulley Shuts Down December 8 After $50M+ From General Catalyst, Stripe and Founders Fund, and Hands Its Customers to Carta

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TechCrunch reported on 2026-09-16 that cap-table startup Pulley is ending operations on 2026-12-08 and has partnered with its rival Carta to transition existing customers and redirect new prospects. The company raised over $50M from General Catalyst, Stripe and Founders Fund; founder Yin Wu gave no official reason, and a former employee attributed the failure to losing to spreadsheets, a fight that got harder as AI tools made spreadsheet management easier. This is the least-discussed AI displacement shape and the most dangerous for point-solution SaaS: the replacement is not an AI-native competitor, it is the general-purpose tool the customer already owns, now good enough.