Palo Alto company KaChing has reinvented itself as Wealthfront, an Internet-based service that is gunning for financial advisors and financial advisor fees. Their initial target — the growing hordes of newly rich employees of tech companies that are either going public or being sold.
kaChing, a Palo Alto, Calif.-based startup backed by Netscape founder Marc Andreessen and Open Table CEO Jeff Jordan, launched a web site today that aims to be a marketplace where anyone can access talented investors. With kaChing, people can choose to invest their money according to the trades of investors featured on the site. It first started out as an application on Facebook, which attracted hundreds of thousands of users who managed mock portfolios. Read More about If You’ve Got the Money, KaChing’s Got the Investors