E*Trade acquires Cake Financial

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
ACQUISITION 
FDN Database Reference:  F231109-300
 
Acquirer:  E*Trade
ACQ Web:  https://www.etrade.com
Location:  USA, Merrifield, VA
Region:  North America
Description:  Online brokerage and banking products and services
Category:  Finance
Contact:  Christos M. Cotsakos, CEO
  
Vendor:  Cake Financial
Vendor Web:  https://www.cakefinancial.com
Location:  USA, San Francisco, CA
Region:  North America
Description:  Social investment service
Category: Finance
Contact:  Steven Carpenter, CEO
 
Aprox. Value:  Undisclosed
 
Details:  The announcement states that customer information will be deleted and destroyed and those that paid for either Cake Premium or Cake Comparison will be reimbursed fully. It is therefore likely that E*Trade have acquired the staff and technology but not the customer base.
 
Link: Announcement

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