The lender has, over the last few months, contemplated a sale and reached out to at least one prospective buyer directly, one of the people said.
Prosper Marketplace, a pioneer of the peer-to-peer lending industry, has been exploring a sale, according to people familiar with the process. The industry sprang up during the financial crisis and gave millions of consumers an alternative to high-cost credit card debt. Prosper and others, including larger competitor LendingClub, offer an installment loan online that many people use to pay down revolving debt.
During its roughly 12 years in business, Prosper has been through three management teams. After founder Chris Larsen left in 2012, the business was run by Stephan Vermut, and then his son Aaron, and Ron Suber. The trio came onboard in 2013 with backing from Silicon Valley heavyweight Sequoia. In 2015, that management team raised $165 million at a post-money valuation of $1.9 billion, according to Pitchbook.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Starling has hit the 1 million account milestone - Business Insider - Business InsiderWhile Starling's total number of accounts may trail other big UK neobanks, it could have an edge over competitors due to the sustainability of its growth:
Source: BusinessInsider - 🏆 729. / 51 Read more »
The Content Moderation Report from Business Insider - Business InsiderThis report analyzes a pressing issue currently facing social platforms — content moderation — and lays out how we expect the debate to evolve.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Bloomberg News employees are having jitters about cost cutting - Business InsiderThere are rumors of layoffs coming in the US, fueling speculation that the parent company Bloomberg LP is headed for a soft sales year. It won't last long. He is extremely unlikable. What is fashionable these days is for all tribes to claim they know Aliens. The Lebanese The Jewish community Africa Who do you think knows the Alien race the best ? Plural there are more than one !!! Races Learn to code.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Daimler CEO says robotaxis business is not realisticDaimler has recalibrated its expectations about the potential business model fro... paying the CEO of Daimler as much as they are is also not realistic and yet here we are Unfortunately, IMO, it is the nature of modern venture capitalism to give rise to ultimately unrealistic businesses. 'Fake it until you make it' can have big consequences (IE collateral damage) when used as a business strategy. It's not. It could be more than 1200 months away...
Source: Reuters - 🏆 2. / 97 Read more »
Insiders raise questions about SoftBank-backed farming startup Plenty - Business InsiderA futuristic farming startup raised $260 million from Jeff Bezos and SoftBank on the promise of upending agriculture. Insiders are raising questions.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Why Bank of America's mortgage business is booming - Business InsiderBank of America's mortgage tech bets have helped save billions and spark a boom in home lending. here's how it's outpacing JPMorgan and Wells Fargo. ctoricky Where's his top lip tho?
Source: BusinessInsider - 🏆 729. / 51 Read more »