LendingClub is where internet folk meet and negotiate peer-to-peer loans. Last quarter, by offering such a marketplace, they managed to bring in over $150M in revenues. Per Exodus, their revenue trajectory is what we in the business of growth look for, perfect:
You may wonder, “How does a website simply connect those with money with others who want loans, and take in such egregious revenues?” And you’re not alone. New York’s Financial Regulators are wondering the same thing, and they have sent a subpoena to the company. The news has stifled the shares, which were otherwise having a robust dead-cat bounce today after being pummeled back on May 9th post earnings.
Are they simply attempting to help people finance the American dream? Or is this another tale of corporate greed?
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