Shady, shitty. doing cold outreach to angel investors about selling Linear shares to their non disclosed buyers. Please shut down carta
What’s the issue? (For the uninitiated)
What’s wrong with this?
Feel like we need more context. What did Carta do?
Carta sales rep used the private cap table info the company trusted them with to reach out to a non-public investor pitching a sale to them behind the company’s back.
All the while the company is paying them money specifically to manage their cap table info securely.
More concerning is https://twitter.com/paulg/status/1356643841659572227 and https://Twitter.com/MarwanRefaat/status/1357820073918910464 where he reported pretty much the same issue in 2021 and Henry said he would make sure it never happened again
I have exercised shares in Carta. What is going to happen now with them?
Nothing
Sounds like cartax is being shutdown. What does that mean for carta employees who were doing secondary share sales on it?
Nothing because it's been 2 years since they had a liquidity event
Can confirm nothing
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