10 December 2016
Visit aciworldwide.com

E*Trade gobbles up Cake

15 January 2010  |  4969 views  |  0 buy and sell button

E*Trade has acquired Cake Financial, an online investment club where users could import and track their data from multiple brokerages and share it with other people. Financial terms of the deal were not disclosed.

In a note on the firm's Web site, CEO Steven Carpenter says that, as of yesterday, it "will cease operation as an independent service" and that "aspects of the Cake service will be incorporated into the E*Trade website".

The site has now shut down and, rather than being offered the chance to transfer their data to another service, users will have their information "deleted and destroyed". Customers that paid for either Cake Premium or Comparison will be reimbursed.

TechCrunch claims E*trade won a bidding war with The Motley Fool to take control of the startup, which was launched at a September 2007 conference organised by the blog site.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

E*Trade offers stock pick status updates for facebook friends

E*Trade offers stock pick status updates for facebook friends

09 December 2009  |  5068 views  |  0 comments
Saxo buys E*Trade Nordic business

Saxo buys E*Trade Nordic business

04 December 2009  |  6262 views  |  0 comments
E*Trade units fined $1m over AML failings

E*Trade units fined $1m over AML failings

05 January 2009  |  8327 views  |  0 comments
E*Trade optimistic on $800m government funding

E*Trade optimistic on $800m government funding

10 November 2008  |  6016 views  |  0 comments
E*Trade looks at Federal aid package after posting Q3 loss

E*Trade looks at Federal aid package after posting Q3 loss

22 October 2008  |  4968 views  |  0 comments
E*Trade pays $1m to settle SEC AML charge

E*Trade pays $1m to settle SEC AML charge

30 July 2008  |  7472 views  |  0 comments
E*Trade sells Canadian unit to Scotiabank for $442 million

E*Trade sells Canadian unit to Scotiabank for $442 million

15 July 2008  |  6599 views  |  0 comments
E*Trade launches trading application for Blackberry users

E*Trade launches trading application for Blackberry users

05 June 2008  |  10429 views  |  0 comments
E*Trade sells Indian brokerage stake to HSBC

E*Trade sells Indian brokerage stake to HSBC

19 May 2008  |  5420 views  |  0 comments
Cake Financial taps Facebook network

Cake Financial taps Facebook network

26 February 2008  |  5120 views  |  0 comments
E*Trade posts $1.7bn Q4 loss; talks up turnaround plan

E*Trade posts $1.7bn Q4 loss; talks up turnaround plan

25 January 2008  |  7607 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out moreFind out more

Top topics

Most viewed Most shared
China tops world fintech rankingsChina tops world fintech rankings
8748 views comments | 39 tweets | 32 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
8329 views comments | 37 tweets | 48 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
8075 views 12 comments | 15 tweets | 27 linkedin
PSD2 will transform the payments landscapePSD2 will transform the payments landscape
7291 views comments | 24 tweets | 13 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6919 views comments | 20 tweets | 24 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job