Public has confirmed the acquisition of brokerage accounts from Carta's secondary business amidst allegations of mishandling private cap table data, which led to Carta exiting the market.
Following public accusations of using private data to broker sales without consent, Carta decisively stepped back from the secondary brokerage market, transferring its customer accounts to Public.
While Carta has relinquished its secondary brokerage business, it plans to focus on company-led offerings, highlighting that they will still play a significant role in related market activities.
Public's acquisition offers a way for former Carta customers to transition smoothly, with opt-out provisions in place, showcasing Public's awareness of customer concerns during this acquisition.
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