Steve Carpenter at Cake Financial, Teaching Note

By Eisenmann, Thomas R.

Entrepreneurship

After investing $9 million of venture capital, Cake Financial had failed to reach critical mass. In early 2010 Cake's assets were sold and the company was dissolved. Founded in 2006, the San Francisco-based Internet company allowed users to monitor their investments and communicate with each other about their portfolio strategies. The case recounts key decisions made by founder and CEO Steve Carpenter, including several "pivots" -- shifts in business model, position, and strategy -- made by Cake's team in response to market feedback.

Collection: HBSP (USA)

Ref: HBS-814121-E

Format: PDF

Number of pages: 11

Publication Date: Jun 4, 2014

Language: English

Description

Industry Setting: Web services

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Steve Carpenter at Cake Financial, Teaching Note

Description

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