Opportunities › Equity management and cap table software › Proposed app
Ledgerleaf
Simple cap table and option grant tracking for small US startups
- Score
- 40
- confidence 60
- Evidence
- 8
- items on the page
- Rivals
- 2
- named in sources
- First version
- 30 d
- estimate
- Type
- Desktop app
- PWA: runs in the browser, installs on Mac and Windows
- Market since
- 2012
- Mature market · AI estimate
ScreensConcept
Desktop app: Cap table managers add holders, record grants and model rounds—keyboard-heavy work with many fields and data entry best done at a desk. Sample screens on a computer, in the proposed brand. Their numbers are sample data.
Cap table
Fully diluted10,000,000
- Founders
About this appAI proposal
Ledgerleaf is a cap table and equity record for small US companies that issue shares and options to a handful of employees and investors. Add holders, record grants and see who owns what, before and after a new round.
It is built for founders who do their own equity admin and do not want a platform sized for large companies. Import records from a spreadsheet or an export from your old provider, check them, and keep one clear ledger.
Pricing is flat and published, so you know the cost before you sign up. Your data can be exported in full at any time, so a change of provider never leaves you stuck.
- Tagline
- Your cap table, kept simple and yours to take with you.
- Voice
- PlainCalmPrecise
- Why this name
- A ledger is the record of ownership; a leaf suggests growth and a single page. Two plain words joined, easy to say.
In the first version
Members say which features they would use. It tells PWAS what people want; it changes no score.
Live cap table
See ownership by holder and share class, issued or fully diluted, updated as soon as you record a change.
No member yet
Option grant tracking
Record grants with vesting schedules, cliffs and exercise prices. See vested and unvested amounts per holder.
No member yet
Round modeling
Try a new round or option pool increase and see the dilution for every holder before you commit.
No member yet
Import from spreadsheets and exports
Upload a CSV from your old provider or a spreadsheet. Rows that do not add up are flagged before saving.
No member yet
Brand identityAI proposal
Check the name against trademark registers before using it.
Palette
#1F4D3ADeep Pine · primary#F7F4ECPaper · surface#1B2420Ink · text#D98E2BAmber · accent#8FB59ESage · data
Typography
Aa
Ledgerleaf
ABCDEFGHIJKLMNOPQRSTUVWXYZ 0123456789
Your cap table, kept simple and yours to take with you.
PricingAI proposal
Pulley's pricing page (verified) lists 5 paid plans from $1,200 to $4,500 a year. Carta's prices are on request. These tiers undercut that entry price as a starting point to test.
Starter
Free
- Up to 5 holders
- Cap table and grant records
- Full data export
Team
$600 a year
- Up to 50 holders
- Vesting and round modeling
- Holder view links
- CSV import
Growth
$1200 a year
- Up to 200 holders
- Change history
- Priority support
- Everything in Team
Would you pay Team · $600 a year?
Your answer tells PWAS which prices people accept. It changes no score.
No answers yet.
What it could be worthEstimate
What a software business making this much sells for today, from real deals. Pick a monthly revenue.
If it makes
Worth about
$194,000
Sale range $132,000 to $263,000
$120,000 a year in revenue
From 87 software businesses listed and sold on Empire Flippers in the last year, revenue vetted by the broker: they sell for about 19× their monthly revenue, most between 13× and 26×.
Measured on profit, the middle deal is 32× monthly net profit: about 2.7 years of profit.
An estimate, not an offer or financial advice. A real price depends on profit, growth, churn, how much of the work is the owner's, and the buyer.
How it would growAI proposal
How the product would reach new customers through its own use, and how the first ones would be found. A plan to test, not a result.
- Built-in loop
- Shared outputs. Founders send holders a read-only equity link and share cap table snapshots with investors and lawyers. Each carries the Ledgerleaf name.
- Do they become customers?
- Holders and investors are mostly employees and funds, not founders, so conversion is uncertain. Test whether recipients who run their own company sign up after viewing a shared link.
- First customers
- US seed-stage startups with under 25 equity holders, run by a founder or operations lead, who are moving off Pulley or a spreadsheet.
- Where to reach them
- Hacker News and founder forums: Post a migration guide and import tool for ex-Pulley customers ahead of the December 8, 2026 shutdown.
- Startup lawyers and accountants: Offer a free account for their clients' small companies and ask for referrals.
- First milestone
- Ten small US startups import their Pulley data and five pay for a year within 60 days.
Why people already pay for this
- VerifiedHacker News post received 11 points and 13 comments
- AI inferencePulley is shutting down and transitioning customers to Carta, indicating consolidation in the equity management market and potential customer dissatisfaction or acquisition pressure.
- Public claimThere is demand for alternative equity management solutions beyond the consolidating platforms.
- VerifiedPulley's pricing page lists 5 paid plans, from $1,200 to $4,500 a year, plus prices on request for larger customers
Tech stack
Every proposal builds on the same PWA base, installable from the browser on any phone or computer. Dashed boxes are what this app adds.
- AppNext.js and TypeScript
- PWAManifest and service worker
- UITailwind CSS
- Data and authSupabase Postgres
- PaymentsStripe
- EmailResend
- HostingVercel
- This app · PDF generationServer-side PDF rendering libraryExport cap table snapshots and grant summaries as PDFs for investors and diligence.
- This app · Audit logAppend-only tables in Supabase PostgresAppend-only history of every equity change, kept in Postgres with row-level rules.
RisksAI inference
- RegulatoryEquity records carry legal weight. Option pricing rules, securities filings and tax treatment vary, so the product must avoid giving legal advice and may need lawyer review.
- CommercialCarta is absorbing Pulley customers and has a free plan. Small companies may accept it by default or stay on spreadsheets, so willingness to pay must be tested.
- TechnicalVesting, dilution and share class math must be exactly right. Errors would destroy trust, so it needs heavy testing against known cases.
- DataImporting messy exports from other providers may be slow and uneven, with each format needing its own mapping.
- CommercialValuation (409A), e-signing and compliance services are often expected by buyers and are not in the first version.
Everything marked AI proposal or AI inference was written by a model from the evidence on the opportunity page. The proposed name must be checked against trademark registers before it is used.