Related Work

1. Teaching Note | HBS Case Collection | June 2014

   Steve Carpenter at Cake Financial

   Thomas R. Eisenmann

   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.

   Keywords: Corporate Entrepreneurship; Business or Company Management; Business Model; Growth and Development Strategy; Business Strategy; Internet; Financial Services Industry; Web Services Industry;

   Citation:

   Eisenmann, Thomas R. "Steve Carpenter at Cake Financial." Harvard Business School Teaching Note 814-121, June 2014.  View Details

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2. Case | HBS Case Collection | January 2014

   Steven Carpenter at Cake Financial (Abridged)

   Thomas R. Eisenmann, Joseph B. Fuller and Shikhar Ghosh

   Steven Carpenter reflects on the successes and failures of his recent venture, Cake Financial. Carpenter had just sold the four-year-old startup and was at work on a new business plan. But first, he wanted to understand why Cake Financial, a service that allowed users to access their brokerage accounts on one platform and also see how other users were investing, had not been widely adopted by customers despite positive receptions from technology and financial observers. The startup had also received financial support from prominent angel investors. Carpenter asked himself what he should have done differently with the technology supporting the platform, and how Cake should have better targeted customers and responded to their unique needs. He also wondered whether he had made the right decisions about when, and from whom, to seek funding at various stages of the company's growth.

   Keywords: Corporate Entrepreneurship; Business or Company Management; Business Model; Growth and Development Strategy; Business Strategy; Internet; Financial Services Industry; Web Services Industry;

   Citation:

   Eisenmann, Thomas R., Joseph B. Fuller, and Shikhar Ghosh. "Steven Carpenter at Cake Financial (Abridged)." Harvard Business School Case 814-054, January 2014.  View Details

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3. Case | HBS Case Collection | December 2010 (Revised November 2014)

   Steven Carpenter at Cake Financial

   Thomas R. Eisenmann and Alison Berkley Wagonfeld

   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.

   Keywords: Corporate Entrepreneurship; Business or Company Management; Business Model; Growth and Development Strategy; Business Strategy; Internet; Financial Services Industry; Web Services Industry;

   Citation:

   Eisenmann, Thomas R., and Alison Berkley Wagonfeld. "Steven Carpenter at Cake Financial." Harvard Business School Case 811-041, December 2010. (Revised November 2014.)  View Details

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