Lending Club Selected as AlwaysOn Global 250 Winner Recognized for creating technology innovations for the Global Silicon Valley
SAN FRANCISCO, July 28, 2011 /PRNewswire/ -- Lending Club, (http://www.lendingclub.com), the leading platform for investing in and obtaining personal loans, today announced that it has been chosen by AlwaysOn as one of the AlwaysOn Global 250 winners. Inclusion in the AlwaysOn Global 250 signifies Lending Club's leadership amongst its peers and its game-changing approach and technology that are disrupting the online lending space. Lending Club was selected by the AlwaysOn editorial team, comprised of industry experts spanning the globe, based on a set of five criteria: innovation, market potential, commercialization, stakeholder value and media buzz.
"Lending Club is positioned directly at the convergence of technology and financial services. We strive daily to set the standard for the new generation of companies providing financial services," said Lending Club CEO Renaud Laplanche. "It is an honor to be recognized as one of the biggest innovators in technology today."
Lending Club brings together investors with creditworthy borrowers – reducing the cost and complexity of traditional lending– to offer borrowers better rates and investors better returns. Focusing on prime and super-prime quality borrowers enables Lending Club to provide investors with steady returns, even during the economic downturn. Since inception, the platform has generated a 9.64 percent Net Annualized Return, while consumers can borrow up to $35,000 with fixed terms and rates starting at 6.78 percent APR for creditworthy borrowers*.
Lending Club joins big-name winners including Facebook, Groupon, Twitter, Zynga and Yelp on this year's AlwaysOn Global 250. All companies will be honored at AlwaysOn's ninth annual Innovation Summit on July 28 at Santa Clara University's Louis B. Mayer Theatre in Santa Clara, Calif. This marks the second consecutive year that Lending Club has been named to the AlwaysOn Global 250.
"This year's AlwaysOn Global 250 are companies driven by the biggest mega-trends, including the accelerating growth of mobile users, cloud computing, and SaaS offerings, globalization, and the socialization of commerce and basically everything online," said Tony Perkins, founder and editor of AlwaysOn. "This year's winners clearly represent some of the highest-growth opportunities we've seen in the private company marketplace in the history of the global Silicon Valley."
The AlwaysOn Global 250 winners were selected from among thousands of domestic and international technology companies nominated by investors, bankers, journalists and industry insiders. The AlwaysOn editorial team conducted a rigorous three-month selection process to finalize the 2011 list.
A full list of all the AlwaysOn Global 250 winners can be found on the AlwaysOn website at:
About Lending Club
Lending Club is the leading online platform that enables the issuance of and investment in prime consumer notes. Lending Club brings together investors and creditworthy borrowers – eliminating the cost and complexity of traditional lending – to offer borrowers better rates and investors better returns. Founded in 2006 and based in San Francisco, CA, Lending Club has been recognized for its growth and innovation by the Harvard Business Review, JMP Securities and AlwaysOn. More information is available at: http://www.lendingclub.com.
Additional information about Lending Club is available in the prospectus for Lending Club's notes, which can be obtained on Lending Club's website at https://www.lendingclub.com/info/prospectus.action.
AlwaysOn is the leading business media brand networking the Global Silicon Valley. AlwaysOn helped ignite the social media revolution in early 2003 when it launched the AlwaysOn network. In 2004, it became the first media brand to socially network its online readers and event attendees. AlwaysOn's preeminent executive event series includes the Innovation Summit, OnMedia, OnHollywood, Venture Summit Mid-Atlantic / IMPACT 2011, OnDemand, Venture Summit Silicon Valley, Venture Summit East, GoingGreen Silicon Valley, and GoingGreen East. The AlwaysOn network and live event series continue to lead the industry by empowering its readers, event participants, sponsors, and advertisers like no other media brand.
*Rate based on A1 Loan Grade, subject to credit approval. All loans made by WebBank, a Utah-chartered Industrial Bank. Annual percentage rates for all loans range from 6.78% (A1) to 27.46% (G5). Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history.
SOURCE Lending Club