Today marks the one year anniversary of Lending Club’s IPO. It was on December 11, 2014 that Lending Club went public in one of the most significant events ever for this industry. This IPO increased the profile for not just Lending Club but for all of marketplace lending and the industry has surged forward in 2015 partly as a result of this increased profile.
But it hasn’t all been smooth sailing for Lending Club in the past year. The actual stock performance hasn’t been good at all for equity investors. Lending Club’s stock still trades below the initial public offering price of $15 per share. Over the last year it has fallen to a low of $10.28 over the summer but has rebounded somewhat since then and currently trades at $13.74 as of writing.
Lending Club continues to focus on growth and recorded $2.2 billion of originations in the third quarter of 2015 as we outline in our Lending Club Q3 2015 earnings report. Our reports for the first and second quarter of 2015 can be found here and here respectively. In 2014, Lending Club originated nearly $4.4 billion total in loans in 2014 and we should see them surpass $8 billion for 2015. [Read more…]