Inventory-trading startup Public has acquired the brokerage accounts of Carta’s secondaries enterprise, TechCrunch has confirmed.
Carta, finest recognized for its cap desk administration software program, sits on a stockpile of knowledge. It tried to broaden into the effervescent scorching secondary market brokerage enterprise, however in January, a startup buyer publicly accused Carta of utilizing the startup’s personal cap desk knowledge to strategy its shareholders as a way to dealer a sale with out the startup’s data. That allegation went viral and scared a lot of Carta’s prospects, who threatened to go away.
Days later, Carta introduced that it was abandoning this enterprise. Now it discovered a prepared purchaser in Public, Axios beforehand reported.
In an emailed assertion to TC, Public mentioned the purchasers of Carta Capital Markets who it acquired have a proper to decide out. In the meantime, Carta says isn’t out of the secondaries enterprise altogether. It is going to proceed to serve with “company-led secondary choices, akin to tender gives,” via its SEC-registered switch agent, it says.
