cake financial acquired by etrade



It was announced today that Etrade acquired a little known social finance company in San Francisco named Cake Financial (see Tech Crunch article).  So why am I blogging about a boring acquisition in the financial services world?  

Well, let's rewind to 3 years ago when I was working at this financial services startup called Finaplex.  I had been there over 2 years, and the company was headed in the wrong direction.  In other words, I was ready to move on.  My job search came down to two companies: WagerWorks/IGT (which I ultimately joined) and this little startup called Portfolia.

Now type in your browser and tell me what you see ..... Yup, Cake Financial!!  Motherfucker!  (btw they changed names.)

Now before anyone (including myself) feels too sorry for me, I never actually got an offer letter.  They were incredibly unprofessional during their interview process (which I don't want to get into) so things just didn't work out.  

Regardless, I still yelled the words "$%@#!@#$" when I read the news this morning.  But who knows, the terms weren't announced so maybe it wasn't even that big of deal (Etrade isn't exactly kicking ass with their sub-$2 stock price).  

Things happen for a reason, and somehow I ended up here in New York City.