Publications
Publications
- June 2014
- HBS Case Collection
Steve Carpenter at Cake Financial
Abstract
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.