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  • January 2014
  • Case
  • HBS Case Collection

Steven Carpenter at Cake Financial (Abridged)

By: Thomas R. Eisenmann, Joseph B. Fuller and Shikhar Ghosh
  • Format:Print
  • | Language:English
  • | Pages:20
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Abstract

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.
  • Educators

About The Authors

Thomas R. Eisenmann

Entrepreneurial Management
→More Publications

Joseph B. Fuller

Entrepreneurial Management
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Shikhar Ghosh

Entrepreneurial Management
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More from the Authors
  • Proday: Calling the Right Play By: Lindsay N. Hyde, Thomas R. Eisenmann and Tom Quinn
  • 40 Ideas to Shake Up Your Hiring Process By: Joseph Fuller, Nithya Vaduganathan, Allison Bailey and Manjari Raman
  • The Partnership Imperative: Community Colleges, Employers, & America's Chronic Skills Gap By: Joseph B. Fuller and Manjari Raman
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