Tagged: scott sanborn

LendingClub Q2 Results, Revenue Rises, Loss Declines. Launches New “Select Plus Platform” for Sophisticated Credit Investors. Will Pursue National Bank Charter

LendingClub (NYSE: LC), an online lending platform for both borrowers and investors, has posted second-quarter results. While still generating a loss, LendingClub said it was on track to be net income profitable (Adjusted) by Q3. LendingClub took years to originate its first $1 billion. Today,… Read More

LendingClub Proposes a Reverse Split of 5-1 for its Shares

LendingClub (NYSE:LC) has filed a document with the Securities and Exchange Commission (SEC) indicating its intent to do a reverse split on issued and outstanding shares. LendingClub would exchange 5 shares for 1. The proposal was included in the notice of the forthcoming Annual Meeting… Read More

John Mack & Mary Meeker Depart LendingClub Board of Directors

LendingClub (NYSE:LC) has posted a notice that two high-profile board members have submitted notice they will not stand for re-election. Both John J. Mack and Mary Meeker have decided to depart LendingClub’s Board. Mack is one of the best-known names on Wall Street. The veteran… Read More

LendingClub Tops Earnings Expectations as Loan Originations Rise but Forecast Disappoints

Leading marketplace lending platform LendingClub (NYSE: LC), released Q4 earnings today along with full year 2018 numbers, and its numbers beat expectations. LendingClub reported record loan originations of $10.9 billion a 21% increase versus the year prior. Net revenue jumped along with originations rising 21%… Read More

LendingClub Q3 Reports Increase in Net Revenue As Originations Rise, Net Loss Stands at $22.7 Million

Marketplace lending platform LendingClub (NYSE: LC) has reported financial results for the third quarter ended September 30, 2018. According to the company, net revenue rose 20% year over year to a “record” $184.6 million. Loan originations came in higher too at $2.9 billion, up 18% year… Read More

LendingClub Q2 Earnings: Originations Increase 31% YoY, Net Revenue Rises 27%

LendingClub (NYSE:LC) is out with numbers for the second quarter of 2018 ending in June. According to a release, LendingClub delivered the following results: Record net revenue of $177.0 million, up 27% year-over-year Record originations of $2.8 billion, up 31% year-over-year Improved Contribution Margin to… Read More

Former Wells Fargo Executive Joins LendingClub as Chief Lending Officer

LendingClub (NYSE: LC), the largest US marketplace lender, has appointed Ronnie Momen to become their Chief Lending Officer. According to LendingClub, Momen will oversee company’s credit strategy including the use of credit data, analytics, and products. Momen started with LendingClub today and is reporting directly… Read More

LendingClub Reports 22% Revenue Growth While Net Loss Grows

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has just released their Q1 earnings report while providing guidance for the full year. According to LendingClub, revenue increased 22% to $151.7 for the quarter with originations growing 18%. Total lending has now topped… Read More

LendingClub Hires Bahman Koohestani as CTO

LendingClub (NYSE: LC), has selected  Bahman Koohestani to serve as the company’s Chief Technology Officer. Koohestani was most recently with Clarivate Analytics, where he served as Chief Technology Officer. Prior to Clarivate Analytics, Bahman was Executive Vice President and Chief Technology Officer of shopping site NexTag where… Read More

Heard at LendIt Fintech 2018

LendIt returned to San Francisco this year as it continues with its annual conference which is one of the largest Fintech focused events in the US. This year’s event is a bit different for several reasons. First of all, more traditional banks showed up in… Read More

Lawrence Summers Resigns from LendingClub Board, Leading Economist Susan Athey Steps In

Lawrence Summers has resigned from the Board of Directors of LendingClub (NYSE:LC), according to a release from the leading online lending platform. Summers is departing the Board at the conclusion of LendingClub’s annual shareholder meeting following a six year stint helping to guide the firms strategy. Summers… Read More

LendingClub Appoints Former Netflix Chief Talent Officer Patty McCord As New Board of Directors Member

Online credit marketplace LendingClub Corporation (NYSE: LC), announced on Tuesday it has appointed Patty McCord as the newest member of its Board of Directors, effective December 13, 2017. According to the online lender, McCord spent 14 years creating the unique and high-performing culture at Netflix and… Read More

Here is the LendingClub Presentation Shared at their Investor Day Event

LendingClub (NYSE:LC) presented at Morgan Stanley last week in a day long event that provided an in-depth update on the company and its expectations for future performance. The Investor Day Presentation, embedded below, was an encouraging compendium of how LendingClub envisions the future of online… Read More

LendingClub will Hold Live Investor Meeting on Thursday

LendingClub (NYSE:LC) has gone from Wall Street darling to Wall Street dog. Since the IPO at the tail end of 2014, shares in the largest marketplace lending platform in the US have struggled to regain its offer price of $15 a share. If you are… Read More

LendingClub Closes on Pass-Through Security Transaction Providing New Liquidity Over the Counter

LendingClub (NYSE: LC), the leading marketplace lending platform in the US, has closed a “first-of-its-kind” transaction: a whole loan transaction structured as a tradable, pass-through security labeled as a Consumer Loan Underlying Bond or “CLUB Certificate”. This first transaction totaled $25 million with an institutional investor seeking… Read More

LendingClub Q3 Results: Highest Revenue in the Company’s History of $154.0 million

LendingClub (NYSE:LC), the largest marketplace lending platform in the United States, has published Q3 2017 financial results. The company delivered the best revenue in LendingClub’s history generating $154 million in top line revenue, an increase of 34% versus year prior and 10% over Q2 2017…. Read More

LendingClub Q3 Earnings Report Scheduled for November 7th

  LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has scheduled its quarterly earnings report for November 7th, at 5PM ET (2PM PT). A live webcast of LendingClub’s call will be available at the Investor Relations portion of the LendingClub websit under the… Read More

LendingClub Schedules Investor Day in NYC, Live Audio will be Available

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has scheduled an investor day in New York City. The event, which is by invitation only, will take place on Thursday, December 7, 2017. CEO Scott Sanborn and other executives from the LendingClub management team will provide… Read More

Positive Report from LendingClub as Sentiment Improves for Online Lender (Q2 Deck)

LendingClub (NYSE:LC) held their Q2 earnings call today and it was by far the most positive report delivered in multiple quarters.  Growth has returned to the marketplace lending club as originations rose in Q2 as did top line revenue. LendingClub upped guidance for Q3 and… Read More

LendingClub Reports Q2 Revenue Growth, Raises 2017 Outlook

LendingClub (NYSE:LC) is out with Q2 numbers and the marketplace lending platform is showing a top line increase for the quarter and for the first half of the year. Loan originations in Q2 increased versus same quarter year prior as well. During Q2 top line… Read More

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