Last year, they launched CartaX, a platform for private companies and their employees to access secondary market liquidity. Henry Ward, founder and CEO of Carta, a company that helps with equity and ownership management, has raised $448 million from investors like Andreessen Horowitz and Lightspeed Venture. The reports highlight the equity gaps between employees and founders based on gender, race, ethnicity and geography in a variety of industries, including high tech. Jeff started at Carta in October of 2018.. Michael Wu VP, Deputy General Counsel He has worked as Negotiator at Sherry FitzGerald, Intern at Morrissey & Morrissey, and Negotiator / Marketing Assistant at Lennox Estates. The suit was settled "unconditionally," the filing said, but it's unknown whether there was any monetary consideration exchanged as part of the settlement. A spokesperson separately told the San Francisco Business Times that Carta co-founder and CEO Henry Ward is serving as interim CTO until the position is filled. Learn how your comment data is processed. In 2020, the companys former VP of marketing sued Carta, accusing the outfit of gender discrimination, retaliation, wrongful termination and of violating the California Equal Pay Act. In December, Frank Han, a senior vice president of operations who left Carta in March 2019, filed a lawsuit accusing the company of wrongful termination and retaliation. To name an example, three ex-workers have stated that he told executives to hire fast, fire fast because he didnt work his employees to feel too comfortable in their positions, which is very much against his stated support for turning workers into owners. Henry Ward serves as the CEO / President of Carta. A lawyer for Mr. Borer said that the case had been resolved and that the resolution was confidential. Ward didn't just nail it; he crushed it. [10], Carta's software allows company founders to issue digital share certificates to investors, employees, and others who qualify for stock options. [10], In 2020, a series F funding round valued the company at $3.1 billion. Apr 27, 2023 3 min. 9% of the management team is Black or African American. [2] Financial news website Business Insider called the company "the NASDAQ for private companies". In its lawsuit, Carta is suing Talton for damages, citing his wrongful and illegal acts as an executive of Carta and suggesting he betrayed the company despite being given a role that came with hundreds of thousands of dollars in salary and benefits, and substantial equity awards.. Our mission is to create more owners in the world, Mr. Ward said. That means the next leg of Carta and Ward's long-running legal drama could be just weeks away. As a subscriber, you have 10 gift articles to give each month. The hope is that by making them into owners, that will enable them to share in that wealth by providing them with a say in what happens. My guest today is Henry Ward, co-founder and CEO of Carta. In February, the company sold just under $100 million of its own stock on CartaX. Soon after, she said, she was informed that she had performance issues, though she was not provided details. Toward the end of Cartas long list of accusations against Talton, Carta says that Talton both sent and received sexually explicit, offensive, discriminatory and harassing messages with at least nine women including during work hours and on Cartas systems, and that Talton sought and obtained benefits and privileges to which he was not entitled, including without limitation, misuse of his corporate credit card for personal matters, and repeated attempts to book travel outside of company policy.. Henry Ward, the CEO and co-founder of Carta, spoke with TheStreet at Web Summit in Lisbon this week about the one part of business activity where he expects to see significant movement in. CMO. He joined Carta as a director of engineering in 2018 and was promoted to CTO in 2020. Find out more about how we use your personal data in our privacy policy and cookie policy. CEO Carta Jul 2012 - Present10 years 10 months Palo Alto, CA At Carta, we're building an ownership graph that changes how assets are acquired, valued, and transacted. It may seem hard to believe now, but this was controversial in 2013. [18] In 2019, Forbes also named the company to its Fintech 50 list. The Trump administration has finalized new regulations reducing the scope of environmental impact reviews on federal infrastructure projects. For Women at Startups, the Equity Gap is Worse", "Carta's Table Stakes 2020 Report and the Implications for Boards", https://en.wikipedia.org/w/index.php?title=Carta_(software_company)&oldid=1136823166, This page was last edited on 1 February 2023, at 09:46. Academia.edu is a platform for academics to share research papers. Funding: $1.1 billion from Andreessen Horowitz, Lightspeed Venture Partners, Tribe Capital and others. Henry Ward is the CEO and co-founder of Carta (formerly eShares), With a background in finance and technology. [8] In November, CEO Ward announced in a blog post that eShares would start doing business under a new name, Carta. Staff size nearly doubled in the last year to 1,600. Mr. Ward not only stated those goals publicly but had Carta advertise them on billboards in San Francisco, including one that implored other tech companies to close a gender equity gap faced by women. Michael Wu. Henry Ward, Carta's chief executive, said he aimed to debut the CartaX exchange in the summer with an offering of his own company's shares before expanding to other customers. Current and former workers at Carta, a hot Silicon Valley fintech company, said they were belittled, excluded and punished if they spoke up. This is because he is both the President and the CEO of Nike. [3] Ward became CEO and Kumar became the company's Chairman. Forbes Lists #19. [ad_1] It's no shock that the tech trade has a range drawback. It is interesting to note that the school was founded as the Catholepistemiad, a rather unusual name to say the least. The discontent at Carta has emerged as the mission-driven facade of many idealistic tech start-ups has started cracking. Talton, who Carta believes also surreptitiously recorded at least two members of Cartas Board of Directors, as well as Cartas Founder and CEO, and other Carta executives and employees, said no. In a 2015 memo to new employees, Mr. Ward offered a warning: Doing Carta is hard. [10] The company also was one of the first to extend option exercise windows for departing employees, as employees became more concerned about their equity stakes. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Total number of current Jobs the person has, Total number of events the individual appeared in, Number of news articles that reference the Person, CES and FFL Startup Talk: Successful B2B Marketing and Growth Strategies, Forethought Raises $65 Million Series C to Accelerate Digital Transformation in Customer Service, Startup backed by a16z, Jonathan Bush aims to help patients compare hospital prices. While she was pregnant, her body underwent so many changes that made her question the 15 years she had, Read More 10 Things You Didnt Know about Tania BolerContinue, The passion for acting started even before Jon Bernthal launched his acting career when he joined the Moscow Art Theater School to study while playing baseball. Developer of valuation and capitalization table management software dedicated to creating more owners. Carta is 49% female and 51% male company-wide. He received his early education at Clapham Elementary School, and then moved on to St. George's Elementary in guys Hill. But he privately told executives to hire fast, fire fast lest workers become too comfortable, said three former employees who heard him. Carta meanwhile has previously been flagged for having aculture problem. Essentially, the issue is that most employees receive either no benefit or relatively little benefit from the success of their companies. [5], In August 2015 eShares raised a $17 million Series B, led by Spark Capital. Carta's CEO is Henry Ward. [6], In October 2016 eShares partnered with cloud-based human resources company Zenefits to add equity management to Zenefits' platform. Meanwhile, the company is separately suing Jerry Talton, the chief technology officer whom it fired and who was deposed as a witness in the Kramer case. It added that Ward reneged on the promises after Han was hired and then fired him for pushing back. Carta has faced multiple lawsuits in recent years, all centering around the conduct of its CEO. View Henry Ward's business profile as Director, Omni Marketing The Rug Gallery At Macy's & Bloomingdale's at Kenneth L Mink & Sons. Carta, an equity management platform that was last . Find contact's direct phone number, email address, work history, and more. Nov 29, 2022 Founders: We've partnered with @Xero accounting software built for small business owners. Several who TechCrunch interviewed over the last couple of months have expressed dissatisfaction with Carta and the service they have received from its representatives. Meloni L, Montisci R, Pippia V, Sancassiani F and Carta M (2016) Alexithymia affects the time from symptom onset to calling the emergency system in STEMI patients referred for primary PCI, International Journal of Cardiology, 10.1016/j.ijcard.2016.06.038, 219, (428-432), Online publication date: 1-Sep-2016. Attendees erupted into emotional outbursts and raised voices, the people said. In any case, Wards current company can be considered a software company. Charly attended INSEAD between 2004 and 2005, ESCP Business School between 1995 and 1999, and University of Illinois Urbana Champaign between 1998 and 1999. Before Han could decide whether to accept this revised offer, Ward fired him. In November 2019, two weeks after Kramer hosted the Carta summit on gender equity, she sat down for a one-on-one meeting with Ward. But less than three months after joining, Mr. Han was demoted and Carta tried to lower his compensation, including reducing his equity grant by almost half, the lawsuit said. Besides promoting equality for women, Ward has been known to talk about fairness for workers as well. Since its inception in 2012, Carta has managed hundreds of billions of dollars in equity at more than ten thousand companies, helping companies like Robinhood, Tilray, and Union Square Ventures manage . In another lawsuit filed in 2019, Tyler Borer, who worked as an account manager at Carta, alleged he was terminated in retaliation for raising concerns with Ward about the company "illegally hacking financial data" from a competitor. The suits' allegations follow a pattern. [13], The company also operates the CartaX private stock exchange, a way for employees and shareholders to sell their stocks before the company goes public or is acquired. [11], In January 2021, launched a private stock exchange called CartaX, to allow employees and shareholders to sell private shares before an IPO or acquisition. Specifically, according to the complaint, Talton was put on administrative leave in October of last year after submitting a letter to Cartas board of directors, flagging various problems with the companys culture. Kramer's suit says Ward spent the next half hour berating her, criticizing her personality and likability and saying that she got passes because she was a woman but that nobody at the company wanted to work with her. In the next era, employees would own a stake in their companies. Carta, a site that manages startup equity, has faced multiple lawsuits from former employees. Studied Mathematics and Computer Science, 5. His investors include the legendary VC firm, Andreessen Horowitz. In a new legal filing Carta's former CTO accuses the company's CEO of a litany of misdeeds. When she received an offer for a new job afterward, a Carta executive whom Ms. Griffith had little contact with told her future employer that she was difficult. Carta said it prohibited providing information on former employees, other than confirming dates of employment. Darren Baker tells a different story.'- . None of the information on this page has been provided or approved by Carta. Andrea Walne, Cartas head of liquidity solutions, was pushed out after she raised concerns about regulatory compliance. I know its smoke and mirrors.. [7], On September 1, 2017, eShares acquired competitor Silicon Valley Bank's valuation business Silicon Valley Bank Analytics (SVBA). [2], In May 2019, the company raised $300 million in a Series E round at a $1.7 billion valuation, led by Andreessen Horowitz. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Here are further demographic highlights of the leadership team: Charly Kevers is a CFO at Carta and is based in San Francisco, California. Are you a current or former employee of Carta? Carta was founded in 2012 by Henry Ward and Manu Kumar. In 2018, the company published a study on women and equity, called the Gap Table.
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