Today we reduced the Cake team by about 30% in order to put the company in a stronger position by swiftly adjusting to the affects of the economic downturn.

It is an extremely sad day for all of us who have to say goodbye to a group of great people who dedicated their time and energy over the past few years to our ambitious project. It is especially hard when you have to part ways with team members who have demonstrated tremendous passion and dedication to changing the standards set by a century old industry. For each of us remaining on the Cake team our mission is to continue to carry that torch and change, forever, the way people invest. To that end, Cake remains dedicated to shaping the new world of investing.

The prospects for Cake, at a time when every investor needs help navigating the stock markets, are as bright as when we launched last year. Cake offers investors visibility into their portfolio performance across multiple brokerage accounts, making it very simple to understand how they are doing vs. the markets and how they compare to other investors.  This level of transparency has never before been available to investors. Today, all of us are looking for better information about our aggregate portfolio as well as tools and resources to help us protect our investments.

At Cake, our goal is to be the trusted place where investors get that extra peace of mind.  And we will continue to work on it as hard as ever.

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