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[therriaultk]

Lending Club became the first peer-to-peer lending platform to make an initial public offering (IPO) on Thursday. Initially the shares were priced at $15.00 but by the time trading started they were being sold at $24.75. The San Francisco-based company is now valued at a whopping $8.9 billion!

The company was founded in 2006 and already has earned themselves the 15th largest valuation of all banks in the US, “and surpassed the value of the remaining 820 or so U.S. banks,” a Top Tech News article reported. The company’s About Us section says that their mission is to:

“[C]reate a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. We operate fully online with no branch infrastructure, and use technology to lower cost and deliver an amazing experience. Today, we’re America’s leading online credit marketplace, and we’re radically changing the way lending operates – every day.”

Check out the full story on CrowdfundingPR!
http://www.crowdfundingpr.org/lending-c ... ssful-ipo/