April 12, 2019 @ 5:54 pm By JD Alois  |  

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

March 30, 2019 @ 3:36 am By JD Alois  |  

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

February 19, 2019 @ 7:45 pm By JD Alois  |  

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

November 6, 2018 @ 4:54 pm By JD Alois  |  

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

August 7, 2018 @ 4:22 pm By JD Alois  |  

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

July 16, 2018 @ 10:33 pm By JD Alois  |  

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

May 8, 2018 @ 4:44 pm By JD Alois  |  

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

April 12, 2018 @ 4:54 pm By JD Alois  |  

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

April 10, 2018 @ 12:19 pm By JD Alois  |  

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

March 28, 2018 @ 4:41 pm By JD Alois  |  

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

December 19, 2017 @ 4:34 pm By Samantha Hurst  |  

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

December 11, 2017 @ 2:44 pm By JD Alois  |  

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

December 5, 2017 @ 6:54 pm By JD Alois  |  

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

December 1, 2017 @ 9:32 am By JD Alois  |  

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

November 7, 2017 @ 4:20 pm By JD Alois  |  

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

October 12, 2017 @ 6:54 pm By JD Alois  |  

  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

August 28, 2017 @ 4:49 pm By JD Alois  |  

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

August 7, 2017 @ 6:28 pm By JD Alois  |  

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

August 7, 2017 @ 4:26 pm By JD Alois  |  

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

July 7, 2017 @ 4:47 pm By JD Alois  |  

Below is the copy of the letter Paul Mathieson, the CEO of IEG, sent to Scott Sanborn, CEO of LendingClub, and the LendingClub Board of Directors. In the letter, Mathieson declares his intent to commence a tender offer for up to 9.99% of LendingClub (NYSE:LC)… Read More