Eric Di Benedetto's public page on socialmedian: Eric Di Benedetto's Clips

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Ericdibenedetto's Clips

Clips

Prosper Goes Quiet and Lending Club Releases 10-Day Loan Numbers

Oct 27, 2008

CenterNetworks We've got a couple updates on the social lending front this morning. First, Prosper has entered a quiet period which they note, "Prosper has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future."During this time Pr (Read More)

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3 Comments

Mood

Ericdibenedetto,

Oct 28, 2008

: 1,072 new lenders signed up in 10 days, it sounds quite impressive!

Eric

Jasongoldberg,

Oct 28, 2008

: @ericdibenedetto do you think there is going to be a legit flight to these sort of higher return investments, even if unsecured?

Ericdibenedetto,

Oct 28, 2008

: I would expect the general public to realize that lending on such a P2P marketplace generates a higher return than the stock market with a very low risk level as borrowers are all prime borrowers. Gartner expects the social lending category to capture 10% of the credit market away from traditional banks within a few years. In the interest of full disclosure, I am both an angel investor in and a large lender on the Lending Club platform.