Friday, January 15, 2010

Cake Financial Acquired, Shut Down By E*trade

San Francisco-based Cake Financial, which operated a service which allowed you to aggregate information from multiple brokerage accounts, has been acquired by E*Trade, the firm told its users Thursday. Financial terms of the deal were not disclosed. In a note to users of the site, CEO Steven Carpenter said that as part of the acquisition, the firm is shutting down its services. The firm was venture backed by KPG Ventures and Alsop-Louise.