ETrade Buys Online Financial Community Cake Financial

ETrade has bought up online financial community Cake Financial. In an announcement on the Cake Financial site, CEO Stan Carpenter says aspects of his company’s service — which lets members track their investments and get feedback from other members — will now be folded into the ETrade website. The Cake Financial site itself is shutting down — and all user data is being destroyed. No financial terms were released, although the acquisition is likely small. Cake Financial had raised $1.26 million in a funding round last February.