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November 6, 2012 06:11 pm GMT
Last night at Bloomberg's San Francisco headquarters, Kleiner Perkins partner Mary Meeker took to the stage to deliver one of her famed presentations on the prevailing trends in the tech ecosystem. It was a somewhat unexpected mid-year update, which elaborated on her annual report published earlier summer, and discussed the continuing strength of mobile, the skyrocketing adoption of Android phones and iPads, among other things. Josh has the full breakdown here. However, buried under the buzz over Meeker's trends report was an announcement from Lending Club that is worth some ink. The Kleiner-backed company, which has become one of the largest platforms for investing in and obtaining personal loans, announced last night that it has now enabled more than $1 billion in personal loans. Thanks to increasing revenue from loan originations and servicing, the company also announced that it had become cash-flow positive for the first time.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/TUdKtESUvAE/
The P2P Lending Experiment: Lending Club Surpasses $1B In Personal Loans, Hits Profitability
Last night at Bloomberg's San Francisco headquarters, Kleiner Perkins partner Mary Meeker took to the stage to deliver one of her famed presentations on the prevailing trends in the tech ecosystem. It was a somewhat unexpected mid-year update, which elaborated on her annual report published earlier summer, and discussed the continuing strength of mobile, the skyrocketing adoption of Android phones and iPads, among other things. Josh has the full breakdown here. However, buried under the buzz over Meeker's trends report was an announcement from Lending Club that is worth some ink. The Kleiner-backed company, which has become one of the largest platforms for investing in and obtaining personal loans, announced last night that it has now enabled more than $1 billion in personal loans. Thanks to increasing revenue from loan originations and servicing, the company also announced that it had become cash-flow positive for the first time.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/TUdKtESUvAE/
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