Carta Undergoes Secondary Sale at $2B Amid 75% Valuation Drop

Carta, a company specializing in cap table management, fund administration, and private equity, is undergoing a secondary sale valued at $2 billion. This marks a significant drop from its previous valuation, which was over 75% higher. Earlier this year, Carta reported annual revenues of approximately $370 million, with $250 million from cap table management, $100 million from fund administration, $20 million from private equity, and $3 million from secondary trading. The company has raised around $1.2 billion in total funding. The secondary sale has sparked discussions about the valuation of similar startups, with some suggesting that Carta's true worth may be closer to $500 million.