SAN FRANCISCO, July 10, 2012 /PRNewswire/ -- Lending Club, the leading platform for investing in and obtaining personal loans, today announced that it has been chosen as one of the AlwaysOn Global 250 winners. Lending Club's inclusion in the AlwaysOn Global 250 signifies its leadership among its peers and highlights the company's use of technology and the Internet to reinvent the traditional lending industry. Lending Club was selected by the AlwaysOn editorial team and industry experts spanning the globe based on a set of five criteria: innovation, market potential, commercialization, stakeholder value and media buzz.
"We're leveraging technology and the Internet to remove costs inherent in the traditional banking system, and we're honored to have our achievements recognized by AlwaysOn for the third consecutive year," said Lending Club CEO Renaud Laplanche. "Our ability to apply Silicon Valley-style innovation to an industry as mature as bank lending is truly unique and we're proud of the value we bring to both our borrowers and investors."
Lending Club brings together investors with creditworthy borrowers, reducing the cost of traditional bank lending to offer borrowers better rates and investors better returns. Since inception, the platform has enabled more than $700 million in cumulative loans, and generated 19 consecutive quarters of positive returns for investors. In recent months, Lending Club has added former Morgan Stanley CEO John Mack and Kleiner Perkins Caufield & Byers general partner Mary Meeker to its board of directors.
Lending Club joins Square, Twitter, Box, Pinterest and Foursquare on this year's AlwaysOn Global 250. All companies will be honored at AlwaysOn's 10th annual Innovation Summit at the Computer History Museum in Mountain View, Calif., on July 23.
"This year's AlwaysOn Global 250 companies have been shaken up by the recent surge in on-demand and mobile innovation. This year's crop of robust, innovative applications has launched a complex world of interconnected, sophisticated data being used by a voracious consumer and business userbase. Coupled with a massive smartphone and tablet adoption, the opportunities for this year's winners are unlimited," says Tony Perkins, founder and editor of AlwaysOn. "The 2012 AO Global 250 winners are driving the technology market into new, uncharted territory, representing 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 2012 list.
A full list of all the AlwaysOn Global 250 winners can be found on the AlwaysOn website at: http://www.aonetwork.com/AOStory/Announcing-2012-AlwaysOn-Global-250-Top-Private-Companies
About Lending Club
Lending Club utilizes technology and innovation to reduce the cost of traditional banking and offer borrowers better rates and investors better returns. Lending Club started operations in 2007 and has been recognized for its results and innovation by the Harvard Business Review and Dow Jones, was named one of Forbes' America's Most Promising Companies in 2011 and recognized as a 2012 World Economic Forum Technology Pioneer. Lending Club is based in San Francisco, California. 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 Silicon Valley Innovation Summit, OnMedia, OnHollywood, IMPACT Venture Summit Mid-Atlantic, Venture Summit East, OnDemand, Venture Summit Silicon Valley, OnMobile, and GoingGreen Silicon Valley. 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.
Information in this press release is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Some of the statements in this above are "forward-looking statements." The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Past performance is no guarantee of future results. Investments may lose value over time and no return is guaranteed.
Currently only residents of the following states may invest in Lending Club notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY (accredited investors), LA, ME, MN, MO, MS, MT, NH, NV, NY, RI, SC, SD, UT, VA, WA, WI, WV, or WY.
SOURCE Lending Club