The big news last week was the initial public offering of Lending Club stock on the New York Stock Exchange. The IPO went very well and the world’s largest marketplace lender is now a whole lot larger. Shares jumped 56% on the day and the company raised $865 million dollars from the offer. At an enterprise value of about 60 times expected 2014 sales around $165 million, its not cheap but the … [Read more...]
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Is this the End of Bank Lending?
Bank Lending has only just started to rebound after the financial crisis and new regulation could put it back down for the count. Can alternative forms of financing pick up the slack and support the economy? I recently derided the banks in a recent blog post on peer lending risks for not stepping up to lend down the $2.6 trillion in excess cash they hold beyond federal requirements for U.S. … [Read more...]
