Social finance company Cake Financial has just been acquired by E*Trade. The company launched in 2007 at the first TechCrunch50 conference (when it was still TechCrunch40). Cake Financial has just posted a note to its homepage announcing the deal and to inform users that the site will no longer exist as an independent service. Instead, its features will be incorporated into E*Trade’s… → Read More
The end game for many social investing sites is to create their own investment management products that link member’s brokerage accounts to the trading data generated by the top portfolios on each site. Today, Covestor is the first major social investing site to launch a stock trading product. It is called Covestor Investment Management (CVIM).
Covestor had to become an SEC-registered… → Read More
Every social investing site wants to turn the insights of its trading members into financial products that people can actually link to their brokerage accounts. Finding the few brilliant stock pickers in the crowd and then letting everyone else follow their portfolios while taking a cut of the management fees is the business model. KaChing, which is the most popular investing application on… → Read More
This has been a brutal month or so for tech layoffs. According to our Layoff Tracker, there have been 19,683 job eliminations at tech companies announced since mid-September, and we’re not even counting the 24,600 people at Hewlett-Packard who are being eliminated as a result of its merger with EDS.
But only five big companies make up more than 90 percent of the layoffs: Xerox (3,000), Dell… → Read More
One year after it launched at TechCrunch40, Cake Financial is rolling out a new design today and a load of new features. One of the most interesting is a new stock index called the Cakedex that is based on the top 100 holdings of the top performing investors on the social investing site. Over the past five and half years, the Cakedex would have outperformed the S&P 500, the Dow Jones, and… → Read More
Silicon Valley-based startup Mint, which provides a service that lets users manage their checking, savings and credit card accounts online, will launch a new product on May 6 that lets users track virtually any type of investment account as well. Users will now be able to manage all of their financial assets on the Mint site. With this change, Mint says, 6,500 US financial institutions: 2,520… → Read More
Of all the apps on Facebook, here is one that might actually make you money—depending on how smart your friends are. Cake Financial, a social finance site that lets you track and share the performance of your actual brokerage accounts, just launched its Facebook app. The app lets you compare your real stock-picking prowess to that of other Facebook members who install it on their profile pages. → Read More
Session four as follows, including our live notes. Cake Financial Cake Financial is a social investment service that lets people track all their investment portfolios in one place. The service allows individual investors to track and analyze their historical performance up to ten years. Users can also view the real-time portfolios and performances of their friends, family and top investors all… → Read More