Cake Financial

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Cake Financial
Type Private
Industry Investing, Software
Founded 2006
Headquarters San Francisco, California
Key people Steven Carpenter, Founder and CEO
Sven Junkergård, Vice President Engineering
Products Rich Internet application
Revenue N/A
Employees 20+
Website cakefinancial.com

Cake Financial was a free web-based financial services social network for individual investors allowing members to share their real stock portfolios and performance with other members. The site was introduced publicly on 17 September 2007, at the TechCrunch40 Conference,[1][2][3] by Founder and CEO, Steven Carpenter. The company also had a Cake Investment Club application on Facebook.[4] Cake had generated media coverage from a number of financial news outlets such as Forbes,[5] Kiplinger,[6] BusinessWeek[7] and Barron's.[8] Cake was backed by Alsop Louie Partners, as well as from angel investors.[9] CakeFinancial competed with other social investment and online finance sites including Motley Fool, Mint.com, Piqqem and Covestor. The company was located in San Francisco, California.

As of 14 January 2010, the site discontinued operations and it was announced that it had been acquired by E*Trade.[10]


References[edit]

  1. ^ Morrison, Chris (17 September 2007). "New companies, continued: MusicShake, Cake Financial, Ponoko, TripIt standout". VentureBeat. Retrieved 2011-03-12. 
  2. ^ Sokullu, Emre (17 September 2007). "TechCrunch40: Crowd Sourcing". ReadWriteWeb. Retrieved 2011-03-12. 
  3. ^ Ecker, Clint (18 September 2007). "Crunched in the valley: TechCrunch40 day one recap". Ars Technica. Retrieved 2011-03-12. 
  4. ^ Schonfeld, Erick (25 February 2008). "Cake Financial Now Lets You Track Your Friends’ Stock Portfolios on Facebook". TechCrunch. Retrieved 2008-02-26. 
  5. ^ Barret, Victoria Murphy (10 December 2007). "Piece of Cake". Forbes. Retrieved 2008-01-06. 
  6. ^ Smith, Anne Kates (December 2007). "Network Your Way to Winning Stocks". Kiplinger. Retrieved 2008-01-05. 
  7. ^ Bogoslaw, David (13 November 2007). "Investing: The Net Wisdom of Peers". BusinessWeek. Retrieved 2008-01-05. 
  8. ^ Carey, Theresa W. (8 October 2007). "A Mixer for Online Investors". Barron's. Retrieved 2008-01-06. 
  9. ^ Dignan, Larry; Dan, Farber (17 September 2007). "Cake Financial leverages wisdom of the crowd for investing". ZDNet. Retrieved 2008-01-04. 
  10. ^ Kincaid, Jason (14 January 2010). "Cake Financial Acquired By E*Trade". TechCrunch. Retrieved 2013-09-30. 

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