Block vs Carta: Founders, CEOs and History
Block was founded in 2009 by Jack Dorsey, Jim McKelvey and is led by Jack Dorsey. Carta was founded in 2012 by Henry Ward, Manu Kumar and is led by Henry Ward.
Company facts
Founders
Block
Jack Dorsey
Dorsey co-founded Square in 2009 with Jim McKelvey after McKelvey lost a glass sale he could not take by card, and has run the company ever since: through the 2015 IPO, the rise of Cash App, the December 2021 rename to Block, the Afterpay purchase and, in Febr…
Jim McKelvey
McKelvey's lost $2,000 glass sale is Square's origin story. He worked with Dorsey and engineer Tristan O'Tierney on the first reader and the flat-pricing business model, and later wrote 'The Innovation Stack' (2020), which explains how Square survived copycats…
Carta
Henry Ward
Henry Ward is the co-founder and CEO of Carta. He has led the company since founding it as eShares in 2012, through its 2017 rebrand, a $7.4 billion Series G in 2021, and expansion into fund administration, private equity, private credit, and legal services.
Manu Kumar
Manu Kumar co-founded eShares (now Carta) with Henry Ward in 2012 after suggesting Ward build software to replace the paper stock certificates Kumar received as an angel investor.
CEOs and their tenures
Block
- Jack Dorsey2009–present
Co-Founder, Block Head and Chairman (Chief Executive)
Has led Square and Block since 2009: the 2015 IPO, the growth of Cash App, the 2021 rename to Block, the Afterpay purchase, bitcoin projects such as Bitkey and Proto, and the February 2026 cut to just under 6,000 employees.
Source - Alyssa Henry2014–2023
Seller Lead, then Chief Executive of the Square business
Joined from Amazon in 2014 as seller lead and became chief executive of the Square business when the parent was renamed Block in December 2021.
Source
Carta
- Henry Ward2012–present
Chief Executive Officer & Co-Founder
Co-founded eShares in 2012 and has served as CEO since; led the 2017 rebrand, the 2021 Series G at $7.4B, the 2024 exit from secondary trading, and the 2025-2026 expansion into private credit and legal services.
Source - Manu Kumar2012–present
Co-Founder
As Co-Founder, he recognized that the entire Silicon Valley ecosystem was running on broken, manual Excel spreadsheets, heavily guiding Henry Ward's early product strategy before stepping back.
Source
Timeline: Block and Carta side by side
2009Block
Square founded in St. Louis
Jack Dorsey and Jim McKelvey start Square in February 2009 after McKelvey loses a $2,000 glass sale because he cannot take an American Express card. With engineer Tristan O'Tierney they build a reader that plugs into a phone's headphone jack.
2010Block
Square reader and app go public
Square releases its free card reader and app, letting individuals and small sellers take card payments on a smartphone at one published rate instead of signing a bank merchant contract.
2011Block
Visa invests in Square
Visa makes a strategic investment in Square in April 2011, a sign the card networks saw the startup as widening card acceptance rather than threatening it.
2012Block
Starbucks deal
Starbucks invests $25 million and Square starts processing card payments at about 7,000 U.S. Starbucks stores, with Dorsey joining the Starbucks board.
2012Carta
eShares founded by Henry Ward and Manu Kumar
Started to replace paper stock certificates with electronic shares.
2013Block
Square Cash launches
Square launches Square Cash in October 2013, letting people send money to each other by email. It later becomes Cash App.
2013Carta
$1.8M seed round
K9 Ventures, Draper, and Scott Banister backed the company.
2014Block
Square Capital and Caviar
Square starts lending to its own sellers through Square Capital in May 2014, with repayments taken as a share of daily card sales, and buys food delivery service Caviar.
2015Block
IPO on the New York Stock Exchange
Square lists on the NYSE as SQ on November 19, 2015 at $9 a share, a valuation of about $2.9 billion, raising about $243 million.
2017Carta
Renamed Carta
eShares rebranded as Carta in November 2017.
2018Block
Cash App adds bitcoin; Square buys Weebly
Cash App, which added the Cash Card debit card in 2017, lets users buy bitcoin from 2018, and Square buys website builder Weebly for $365 million. Commission-free stock investing follows in 2019.
2019Carta
$300M Series E at $1.7B valuation
Led by Andreessen Horowitz.
2020Block
Bitcoin treasury, Verse and Credit Karma Tax
The FDIC approves deposit insurance for Square Financial Services in March 2020. Square buys Spanish payments app Verse in June, puts $50 million into 4,709 bitcoin in October, and agrees in November to buy Credit Karma Tax for $50 million.
2021Block
TIDAL purchase and Square's own bank opens
Square Financial Services opens on March 1, 2021, and Square agrees the same month to buy a majority of the TIDAL music service for $297 million in cash and stock, with Jay-Z joining its board.
2021Block
Afterpay deal announced
Square agrees in August 2021 to buy Afterpay, the Australian buy now, pay later company, in an all-stock deal valued at about $29 billion.
2021Block
Square becomes Block
On December 10, 2021, Square, Inc. renames itself Block, Inc., shortly after Dorsey steps down as Twitter's chief executive. Square remains the name of the seller business.
2021Carta
$500M Series G at $7.4B valuation
Led by Silver Lake and Lightspeed in August 2021.
2022Block
Afterpay acquisition closes
Block completes the Afterpay purchase on January 31, 2022. Because it paid in its own shares, which had roughly halved since the announcement, the deal was worth much less at closing than the headline $29 billion.
2022Carta
Acquires Vauban and Capdesk
Two London-based platforms expanded Carta in Europe.
2023Block
Hindenburg report, Square leadership change and Bitkey
Short seller Hindenburg Research accuses Cash App in March 2023 of inflated user metrics and weak compliance, which Block rejects.
2024Block
Proto mining chip and portfolio cuts
Block says in April 2024 it has designed a 3-nanometer bitcoin mining chip, agrees in July to supply Core Scientific, and in November winds down its TBD crypto unit and scales back TIDAL.
2024Carta
Exits secondary trading
Shut down its secondary trading business after a January 2024 customer controversy.
2025Block
Cash App settlements and the XYZ ticker
In January 2025 the CFPB orders Block to pay up to $120 million in Cash App redress plus a $55 million penalty, state regulators impose an $80 million anti-money-laundering penalty, and the ticker changes from SQ to XYZ.
2025Block
Block joins the S&P 500
Block enters the S&P 500 on July 23, 2025, replacing Hess, and at its November investor day sets 2028 targets of about $15.8 billion of gross profit and $4.6 billion of adjusted operating income.
2025Carta
Acquires Sirvatus and Accelex
Added private credit loan operations and AI document extraction in October 2025.
2026Block
Workforce cut to under 6,000
On February 26, 2026, Dorsey announces Block will shrink from more than 10,000 employees to just under 6,000, citing AI, and the shares jump about 24%.
2026Carta
Launches Carta Law; Pulley winds down
Acquired Avantia in May; rival Pulley announced in September it will close on December 8 and migrate customers to Carta.
Acquisitions
Block
- Afterpay2022$29B
- TIDAL (majority stake)2021$297M
- Credit Karma Tax (now Cash App Taxes)2020$50M
- Verse2020Undisclosed
- Weebly2018$365M
- Caviar2014$90M
Carta
- Avantia2026Undisclosed
- Sirvatus2025Undisclosed
- Accelex2025Undisclosed
- Vauban2022Undisclosed
- Capdesk2022Undisclosed
Questions about Block vs Carta
Who is the CEO of Block Inc and Carta, Inc.?
Block Inc is led by Jack Dorsey and Carta, Inc. is led by Henry Ward. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Block Inc founded vs Carta, Inc.?
Block Inc was founded in 2009 — 3 years before Carta, Inc., which was founded in 2012. Block Inc's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Carta, Inc..
How many employees does Block Inc have compared to Carta, Inc.?
Block Inc employs approximately 10,205 people, while Carta, Inc. employs approximately 1,900. Block Inc has the larger workforce at 10,205 employees, compared to Carta, Inc.'s 1,900. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Block Inc and Carta, Inc. headquartered?
Both Block Inc and Carta, Inc. are headquartered in United States. Their local rules and tax obligations may still differ.
Who founded Block Inc and Carta, Inc.?
Block Inc was founded by Jack Dorsey, Jim McKelvey. Carta, Inc. was founded by Henry Ward, Manu Kumar.
Which company has a longer operating history — Block Inc or Carta, Inc.?
Block Inc has been operating for approximately 17 years, making it the more established of the two companies. Carta, Inc. has been in operation for around 14 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Block vs Carta overview