From www.valuewalk.com -
Peer-to-peer lending company Prosper Marketplace president Ron Suber and CFO Macy Lee did an interview with btigresearch.com analysts Mark Palmer and Giuliano Bologna this week, and it’s clear that the two execs are already laying the foundation for their IPO, expected later this year.
“People underestimate what it takes to do this,” said Suber, explaining why his company (along with Lending Club) has a significant moat. “It takes a lot more than branding and marketing to have an actual business that can scale.”
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- Prosper and Lending Club's management teams have a good relationship with each other because they don’t view each other – or traditional banks – as competition.
- Prosper's team is planning a media blitz on all fronts with digital marketing, direct mailings, blogging, social media and any other advertising avenue that makes sense.
- Banking expert Dick Bove says that since P2P platforms like Prosper and Lending Club aren’t considered banks or brokers they evade a lot of regulations, and he thinks investors reaching for yield will get burnt by defaults.