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[Urbi_et_Orbi]

There are now indications Prosper Marketplace may be in the early stages of closing down.

Not unexpected, but quite sad.

I would encourage Prosper to address these assertions and communicate openly with its constituencies.

[bamalucky]

I would encourage Prosper to address these assertions and communicate openly with its constituencies.

That is funny..

[aurel57]

There are now indications Prosper Marketplace may be in the early stages of closing down.

And just what might those indications be? That they are still advertising? Still paying referral fees? Still doing site updates?

[Tokyo Joe]

There are now indications Prosper Marketplace may be in the early stages of closing down.

And just what might those indications be? That they are still advertising? Still paying referral fees? Still doing site updates?

Well one indication would be the sudden and abrupt departure of its founder and chief technology officer, without explanation...  And the top fraud guy.

I am unaware of any other indications, and those alone don't mean the end has arrived.  But I don't see them as good developments at all...

Advertising and site updates mean nothing... The former is paid in advance and the latter is grunt work that continues as long as people still come to the office.  The referral fees still being paid is a sign that there's still a heartbeat, but those alone don't ensure the company will be there tomorrow...

There's no big blowup as far as I can see...  Prosper may simply die a death of 1000 papercuts.

[Xenon481]

And just what might those indications be? That they are still advertising? Still paying referral fees? Still doing site updates?

The loss (firing, layoff, "opportunities", etc?) of several employees all at one time including (but not necessarily limited to) the co-founder & CTO, head information security officer, and lender services agent.

The new information security head is purportedly (hearsay) not upper-level management material for a growing company.

Horrid origination rates for over 12 months and this month looks like it could be the worst month for originations since December 2006.

[NewHorizon]

Just an idle thought.  But looking at the loan growth chart, April 2007 looks to be the end of Prosper's initial growth and it's never really been the same since.  Has this anything to do with Black Friday - March 30, 2007? 

Nah - probably just a coincidence.

[bookwyrm]

Just an idle thought.  But looking at the loan growth chart, April 2007 looks to be the end of Prosper's initial growth and it's never really been the same since.  Has this anything to do with Black Friday - March 30, 2007? 

Nah - probably just a coincidence.

Of course it's just a coincidence.  Black Friday only affected lenders, right?  Since lenders aren't customers, losing a few doesn't impact Prosper at all!

[Mtnchick]

No debt sales, no activity on 4+ month late loans, no apparent collection activities, ignoring serious proven received letters from lenders........the recent leavings are just icing on the soggy from sinking cake.

Everyday I go in and pull out whatever measly amount is in there. And curse the day I ever heard the name of this company.

[AmexFan]

Prosper would have been a brilliant idea, but it would have needed brilliant execution and impeccable operation. It would have needed to excel in many areas, from effective collections and lawsuits to supreme customer service to Lenders, as such to the point that not even economic downturns would have affected it.

It would not have been impossible.

[Xenon481]

And just what might those indications be? That they are still advertising? Still paying referral fees? Still doing site updates?

Prosper's CFO's (Kirk Inglis) Prosper loan is <15 days late.

[ira01]

There are now indications Prosper Marketplace may be in the early stages of closing down.

And just what might those indications be? That they are still advertising? Still paying referral fees? Still doing site updates?

Well one indication would be the sudden and abrupt departure of its founder and chief technology officer, without explanation...  And the top fraud guy.

I am unaware of any other indications, and those alone don't mean the end has arrived.  But I don't see them as good developments at all...

http://www.prospers.org/forum/our_new_insider_aaaggg-t8914.0.html;msg143841#msg143841
http://www.prospers.org/forum/our_new_insider_aaaggg-t8914.0.html;msg143842#msg143842

[Mtnchick]

Prosper would have been a brilliant idea, but it would have needed brilliant execution and impeccable operation. It would have needed to excel in many areas, from effective collections and lawsuits to supreme customer service to Lenders, as such to the point that not even economic downturns would have affected it.

It would not have been impossible.

If you go back and read the old boards and remember PD07, all they had to do was pay a little attention to what the lenders were suggesting. But instead they made us the enemy. Bravo, P-----r, well played.

[bamalucky]

Was the CFO trying to steal 5k & fraudman canceled the loan?

Something isn't right on that loan.

http://www.prosper.com/lend/listing.aspx?listingID=375572

[bamalucky]

Loan was canceled 2 minutes after fraudman took all the other lenders off the loan..Something is very fishy here.

[bamalucky]

My next question is Kirk still there? Will his name go poof at the next maintenance?