IPO, Trade sale, it will set a mark and a direction...trade sale to a bank might make it even more exciting....as there are 1,000 times more banks than lending platforms, so scarcity might drive prices up!
LendingClub Corp., which is backed by investors including Kleiner Perkins Caufield & Byers, is pursuing a dual track process, two sources said. The peer-to-peer lending company filed to go public in August but is also seeking a buyer, the people said. Goldman Sachs, who is an underwriter on the IPO, is advising on the sale, one of the sources said. San Francisco-based LendingClub provides a marketplace that connects borrowers and lenders. Since its launch in 2007, the lender has facilitated more than $5 billion in loans. The company provided $98 million in revenue in 2013 while adjusted EBITDA was $15.2 million, regulatory filings said. “Price expectations on the IPO are so high that I don’t see any strategic buyer who would think about that,” a private equity source said.