Stock-trading startup Public has acquired the brokerage accounts of Carta’s secondaries enterprise, TechCrunch has confirmed.
Carta, greatest identified for its cap desk administration software program, sits on a stockpile of knowledge. It tried to broaden into the effervescent sizzling secondary market brokerage enterprise, however in January, a startup buyer publicly accused Carta of utilizing the startup’s non-public cap desk knowledge to strategy its shareholders with a view to dealer a sale with out the startup’s information. That allegation went viral and scared lots of Carta’s clients, 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 stated the shoppers of Carta Capital Markets who it acquired have a proper to choose out. Meanwhile, Carta says isn’t out of the secondaries enterprise altogether. It will proceed to serve with “company-led secondary choices, corresponding to tender affords,” by its SEC-registered switch agent, it says.
