Cap table
Team
1 Product Manager
6 Engineers
Role - Lead Designer
Research, Product Design, Testing, UX Writing
Cap Table started as an internal tool the Customer team use to manage equity ownership for the small businesses under Teamshares. The goal was to transform the cap table into a scalable MVP tool allowing businesses to manage on their own. We aimed to build a scalable solution, improve user engagement, and simplify complex interactions.
Impact within 60 days of launch
Data source: Google analytics
As of 2024
$30M+ equity generated for employees
100+ small businesses
2.5K+ employees involved
300+ internal and external users users
We were approached by the Customer team asking us to take the current cap table internal tool and grant businesses the ability to manage on their own. Questions immediately raised in my head. I set up meetings with the Customer team and leadership to understand the underlying problems.
37% of businesses were experiencing weeks long delays for cap table updates.
Customer team were struggling with request volumes as number of businesses grow.
Current tool used by the Customer team, along with a quick design audit during the review process:
Original cap table interface review and design audit notes
Our tool needed to serve 2 user groups : Customer team (current internal users) and small businesses (new external users). They were both unhappy.
“Getting my cap table to be updated is taking longer and longer. Can I do it myself?”
— Small business manager
Gathered from an in-person interview
I interviewed 5 Customer team members to understand current bottlenecks with the internal tool so these issues can be resolved in the MVP designs. Here are the consolidated key takeaways:
A tedious and redundant process
Updating 1 employee at a time made managing large groups, such as 100+ employees, a 3-4 hour task.
— 5 / 5 Customer team
Scalability issues
As number of businesses grow, the businesses faced delays in updates and the Customer team is stressed.
— 4 / 5 Customer team
Learned to edit through trial & error
Users struggled with unclear instructions, relying on trial and error to complete cap table edits.
— 3 / 5 Customer team
Technical language created barriers
Financial terminology familiar to our team might confuse new users, making task completion challenging.
— 3 / 5 Customer team
Gathered from online user interviews
Collaborating with the PM, customer team, and engineers, we began the research phase with the goal of understanding the current state of the cap table and our users’ needs, which we aimed to capture through an user journey map.
Initial user journey updating cap table
One area of concern was how well our users would adapt to the new editing experience. Would they be able to learn the cap table actions? Did they need all the options available to the Customer team?
We met with the data team for an action analysis, which revealed interesting patterns: more than 75% of the actions taken within Q3 and Q4 of 2022 were primarily issuing shares, employee buyback, and canceling certificates. We decided to include those 3 in the MVP.
Data source: Google analytics & data team
We needed to please both user groups: external users who wanted a simple tool to edit the cap table independently and our internal users who wanted something more efficient. Balancing their needs became our mission.
User personas
New user flow and MVP analysis
With user needs and pain points identified, the goal was to transform the internal cap table into a scalable tool that met the dual needs of internal users seeking efficiency and scalability, and external users valuing simplicity.
9 user stories tested remotely
20+ prototypes
10 users (8 new users, 2 existing users)
HMW ensure scalability?
Introduced new patterns
During workshops with engineers, I advocated for using collapsible cards as our foundational design pattern. Why?
Information organization: Reduced cognitive overload by segmenting data
Page performance: Limited content to optimize loading speed
Design system: Leveraged the updated design system to introduce new, scalable patterns effectively
Design system component: collapsible card
Removed tedious processes
I introduced the bulk upload feature that enables users to upload all data. This has received positive feedback from both the Customer team and business users, as it automates repetitive tasks and reduces manual effort.
CSV bulk upload feature
HMW overcome UX language barriers?
UX writing: Enhanced friendliness
Our initial assumption was that financial terminology won’t confuse users in the cap table edit options and fill ins if we provided definitions for each. We were wrong.
A/B testing with small business manager
During user testing, 3/4 first participants struggled with choosing actions, CTA buttons, and date inputs. They asked if this action meant on key action phrases like “A person hired” or "someone leaving" to grasp the functionality. I revised the options to emphasize these key phrases, ensuring clarity and ease of use.
UX writing iterations
After iterating, all 4/4 remaining participants completed the flow without any confusion about the UX writing, validating the effectiveness of the revised language.
HMW balance simplicity and functionality?
Tailored edit experience
We introduced custom workflows for the 2 user groups. The Customer team received a complete revamp, streamlining all 6 of their key actions for a smoother UX. For new business users, we simplified the experience by focusing on the 3 most commonly used actions, with guidance for ease of use.
Customized experience for processing an employee exit
As a small business manager, I can update the cap table for new employees joining the company.
