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[312lender]

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


http://www.sociallending.net/

[God-Father]

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

[Investar]

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

http://www.sociallending.net/

Perma-link:
http://www.sociallending.net/news/prosper-receives-a-new-round-of-funding/

[ira01]

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:

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.

[God-Father]

Lobby - before everybody starts saying bad things about everybody.

[ira01]

Lobby - before everybody starts saying bad things about everybody.

+1.

[312lender]

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. 

[cowdog]

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


 

[312lender]

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

[TexGuy]

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

Stupid is not knowing the difference between hearing and reading.

[ira01]

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!   

[Urbi_et_Orbi]

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?

[yankeefan]

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??

[312lender]

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!   

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

[112233]

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