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Author Topic: Prosper Receives New Round of Funding  (Read 17776 times)

312lender

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Prosper Receives New Round of Funding
« on: November 04, 2011, 08:14:33 pm »

Prosper is going to be profitable by the end of 2012 for sure.  Possibly earlier.


http://www.sociallending.net/

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God-Father

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Re: Prosper Receives New Round of Funding
« Reply #1 on: November 04, 2011, 08:41:46 pm »

It doesn't make sense that Prosper wouldn't have a press release for such important news. 
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Investar

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Re: Prosper Receives New Round of Funding
« Reply #2 on: November 04, 2011, 08:50:45 pm »

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ira01

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Re: Prosper Receives New Round of Funding
« Reply #3 on: November 04, 2011, 08:53:09 pm »

It doesn't make sense that Prosper wouldn't have a press release for such important news. 

No, it doesn't.  Maybe this is crap, or maybe it is true.  We'll find out from the SEC filings.  But I think the most interesting part of this story was this:

Quote
Their CFO stated to me yesterday that Prosper expects to reach break even in 12-18 months at somewhere around $30 million in new loans per month.

So Prosper is saying that it will take $30M a month to reach break-even -- that is even worse than the $25M we've been figuring.  And that is what, 350% of what they did last month?  I don't see them almost quadrupling originations in 12-18 months.

Too bad the class action is proceeding so slowly -- that alleged $25M sitting around would be a nice pot of money for the wronged P1 lenders to take.
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God-Father

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Re: Prosper Receives New Round of Funding
« Reply #4 on: November 04, 2011, 08:55:09 pm »

Lobby - before everybody starts saying bad things about everybody.
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ira01

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Re: Prosper Receives New Round of Funding
« Reply #5 on: November 04, 2011, 08:58:36 pm »

Lobby - before everybody starts saying bad things about everybody.

+1.
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312lender

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Re: Prosper Receives New Round of Funding
« Reply #6 on: November 04, 2011, 09:10:16 pm »

Quote
So Prosper is saying that it will take $30M a month to reach break-even -- that is even worse than the $25M we've been figuring.  And that is what, 350% of what they did last month?  I don't see them almost quadrupling originations in 12-18 months.


In the past 14 months, Prosper has more than quadrupled.  And if they continue to grow at 10+% per month, they'll get to 30 million in 13 months.   

Don't worry Ira, Prosper will have an even nicer pot of money for you to salivate over in no time. 
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cowdog

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Re: Prosper Receives New Round of Funding
« Reply #7 on: November 04, 2011, 09:13:34 pm »

Because 10% growth per month is a reasonable projection for any business.


 ::)
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312lender

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Re: Prosper Receives New Round of Funding
« Reply #8 on: November 04, 2011, 09:34:31 pm »

That was one of the stupidest things I've ever heard Cowdog. 
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TexGuy

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Re: Prosper Receives New Round of Funding
« Reply #9 on: November 04, 2011, 10:16:54 pm »

That was one of the stupidest things I've ever heard Cowdog. 

Stupid is not knowing the difference between hearing and reading.

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ira01

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Re: Prosper Receives New Round of Funding
« Reply #10 on: November 05, 2011, 12:15:09 am »

That was one of the stupidest things I've ever heard Cowdog. 

Actually, Cowdog is absolutely correct.  Under your logic, after Prosper gets to 30 million a month in 13 months, they'll be at $104M a month in another 13 months, and $358M a month 13 months after that, right?  And a mere 13 months after that, Prosper will be originating a tidy $1.23 BILLION a month.   ::)  Hell, pretty soon after that they'll be bigger than JP Morgan Chase, Citibank, Wells Fargo, and Bank of America combined!   :ninja:
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Urbi_et_Orbi

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Re: Prosper Receives New Round of Funding
« Reply #11 on: November 05, 2011, 12:37:20 am »

Should an SEC-regulated company really be issuing, or even informally leaking, statements with specific assertions of future profitability - without safe harbor language or reference to a prospectus?
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https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

yankeefan

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Re: Prosper Receives New Round of Funding
« Reply #12 on: November 05, 2011, 08:48:19 am »

Should an SEC-regulated company really be issuing, or even informally leaking, statements with specific assertions of future profitability - without safe harbor language or reference to a prospectus?

Maybe Chris doesn't believe in the fraudulent SEC??
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312lender

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Re: Prosper Receives New Round of Funding
« Reply #13 on: November 05, 2011, 09:09:25 am »

That was one of the stupidest things I've ever heard Cowdog. 

Actually, Cowdog is absolutely correct.  Under your logic, after Prosper gets to 30 million a month in 13 months, they'll be at $104M a month in another 13 months, and $358M a month 13 months after that, right?  And a mere 13 months after that, Prosper will be originating a tidy $1.23 BILLION a month.   ::)  Hell, pretty soon after that they'll be bigger than JP Morgan Chase, Citibank, Wells Fargo, and Bank of America combined!   :ninja:

That was a real thought out response, Ira.  Good job.
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112233

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Re: Prosper Receives New Round of Funding
« Reply #14 on: November 05, 2011, 09:32:26 am »

If prosper's success is derived from making their lenders successful, then that's great.
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