LENDING CLUB IPO QUIET PERIOD CONCLUDES

Renaud Laplanche, Carrtie DolanOn January 5, 2015, the 25-day quiet period concluded regarding the Lending Club IPO, one of the leading marketplace lenders in the U.S. This means that those responsible for underwriting the securities may start publishing their analysis of the company starting today. The underwriters include many top banks, including Morgan Stanley, Goldman Sachs, Credit Suisse, Citigroup, BMO Capital and Wells Fargo.

The Lending Club offering was well received by the market, including a spike of approximately 65% over its initial offering price of $15, which was already at the high end of its expected share price. The stock has traded as high as $29.29, with an end-of-day closing high of $27.90. The stock opened today at $24.15, and any insight that can be gleaned from the underwriters is expected to have an impact on the stock.

Although Lending Club is one of the leading marketplace-lending platforms, its IPO and ensuing stock market growth provides validation to an area of alternative finance that many see as a niche industry. An online marketplace-lending intermediary such as Lending Club has many advantages over traditional banks. They are able to utilize technology in order to both reduce operational costs and inefficiencies as well as more proficiently connect the supply and demand of the lending market through automated processes.

The firm originally operated exclusively in the peer-to-peer lending space, but has subsequently expanded to include small businesses as the recipient of loans funded through marketplace lending. The market for these loans continues to grow, especially as borrowers are unable to secure loans from banks, which have a limited ability to lend under increased regulatory restrictions. In its SEC filings, Lending Club reported that since its inception in 2007, it has origination in excess of $6 billion in loans, with $1.2 billion of this in the third quarter of 2014.

With the success of Lending Club’s IPO represented by the market’s positive response to the company, marketplace lending has taken another step forward to become a more established, viable form of alternative finance lending. Lending Club is not alone in this industry, with many, well-known marketplace-lending competitors also seeing an increasing numbers of borrowers. This coupled with investor enthusiasm showing few signs of abating, this new, technologically-adept form of linking borrowers and investors with attractive rates appears to have well-positioned itself to see an increased position in the debt markets.

Advertisements

One Man’s Quest to Tell/Sell His Memoir, “Been There Done That”

Author launches Kickstarter campaign in effort to share his remarkable story of survival with others

rickramoneLOS ANGELES (March 3, 2013) – Rick Bassman has lived eight lives as a Stage 4 Cancer survivor, homeless person, gunshot and stabbing victim, heroin and cocaine addict, criminal, and 5’4” “tough guy”/street fighter. Yet, despite all his travails, the former Emmy Award winning Disney executive, NFL agent and movie producer and professional wrestling mogul & MMA pioneer may be facing the toughest challenge of his tumultuous lifetime: the publication of his memoir, Been There, Done That.

Bassman, in keeping with his own life script, has decided to do things his own way. And that certainly applies to the publication of his memoir. Rather than entrusting his life’s work to the hands and whims of others—even declining a highly lucrative major publishing deal—Bassman has decided to appeal to the public via Kickstarter (please see link below) to assist him in publishing his incredible life’s journeyhis way.

Been There, Done That is one man’s touching memoir of going to hell and coming back through the other side, electrified. From dying of cancer, living destitute on the streets and watching his family die one by one, to producing movies and concerts and communing with spiritual leaders and porn stars, Bassman’s life can best be described as not only that of a Winner and a Loser, but a Survivor. A true Survivor.

Readers will revel in travelling to every corner of the globe on one bizarre adventure after another, to the extreme, opposite recesses of an often hysterical, often dark and twisted, and always outrageous mind.Been There, Done That follows one person—self-described as short, bald, funny-looking and now old—on his quest to live his life to the max or do his damndest to die trying. Been There, Done That is not only the story of one Rick Bassman. Readers will find something of themselves in Bassman’s courageous quest and unflinching determination to live life to the fullest, on his terms, no matter the insurmountable obstacles.

Been There, Done That is not the conclusion of the Rick Bassman story. Far from it. There’s still Chapter Nine and you’re part of that. Will you help Rick so that he can share his inspirational story of survival, of beating overwhelming odds, again and again, with others?

Kickstarter: LINK HERE

###

Press Contact for Rick Bassman:

Liam Collopy

President

LCO – Levine Communications Office Inc.

9100 Wilshire Blvd., Ste. 540 E. Tower

Beverly Hills, CA 90212

E: lcollopy@LCOonline.com

T: 310.300.0950 x 308

www.LCOonline.com

 

World Crowdfund Federation Launches Across Five Continents

 

WASHINGTON and TORONTO, Oct. 4, 2012 /PRNewswire-USNewswire/ — Today crowdfunding associations in the United States, Canada, Nigeria, Australia, Israel, India and Brazil announced the formation of the World Crowdfund Federation (WCF).  “We are very excited about this new development,” said David Marlett, Founder and Executive Director of the United States’ National Crowdfunding Association (NLCFA), adding, “We see many other countries soon to join, including the Scandinavian countries and Germany and the UK.”

(Logo: http://photos.prnewswire.com/prnh/20121004/DC86856LOGO )

The NLCFA and a group of supporting crowdfunding associations around the world originated the concept of the WCF.  “Once David lit the fuse, it just took off,” said Craig Asano, Executive Director of the National Crowdfunding Association of Canada (NCFA Canada).  “We are all not-for-profit organizations that promote crowdfunding in our respective countries.  Through the WCF we will share resources and information, and provide mutual support to each other around the globe.”

Though donation and reward-based crowdfunding is what has proliferated the globe in the past couple of years, it is the prospect of investment or equity crowdfunding that is all the buzz.   Investment crowdfunding is already legal in Australia, Sweden, the UK, and other countries, and with the United States’ JOBS Act it will be legal in the US in mid-2013.  “Crowdfunding initiatives and industries are popping up around the world at remarkable speeds,” said Baruch Levanon, Executive Director of the Israel Crowdfund Association.   “We find increasing awareness to the potential of the crowdfunding mechanism among the financing and business community in Israel as well.”

“Crowdfunding transcends all geographic and political boundaries.”

Continue Reading Here