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Prosper is Now $2 Billion Strong

In April of this year, we announced that we crossed over $1 billion in loans issued through our online marketplace lending platform.

This October, we shattered all expectations and reached our second billion dollars in loans in just 6 months.

Wow, that was fast.  And it was all thanks to you, The Prosper Community!

Even though it’s only been half a year since our last big announcement, Prosper has been rapidly growing and expanding – from new team members, to new eligible states, to better terms and new features on the website.  This year more than ever, we’ve put our ears to the ground and really listened to what the community was saying in customer service calls, Twitter posts, and Facebook comments, and made what was most important to them, most important to us.

There’s been more going on in the Prosper world than we could ever fit in one blog post, so we created an interactive infographic so you can learn more about our road to $2 billion.

You can view it here:

See the Infographic

The Prosper $2 Billion Photo and Video Contests

In celebration of our first $2 billion dollars, and to show our appreciation for our thriving lending community, we are launching a photo and video contest for our community of borrowers!  We want to learn about your Prosper experience and how it made your life easier, made your family happier, or got your finances under control.  You can either submit a video or a photo through the links below to tell your story – they can be serious, funny, reflective, creative, or all of the above – and no prior filmmaking/photography experience required!  We just want your submission to be honest and unique.  We’ll be taking entries until November 13th.

After we’ve reviewed all of the entries, we’ll choose our favorite 5 photos and favorite 5 videos and let YOU, the community, vote for your favorites.  We’ll have prizes for 1st-3rd place in both the photo and video categories, with the grand prize for the video contest being a full loan payoff!  The prizes are as follows:

Photo Contest:

1st Place- $5,000
2nd Place – $2,500
3rd Place – $1,000

Video Contest:

1st Place – Full Loan Payoff (up to $35,000)
2nd Place – $5,000
3rd Place – $2,500

All prize amounts will be credited towards your Prosper account.  We can’t wait to see what you come up with!

 

To submit your video, click here:

Submit Video
 

To submit your photo, click here:

Submit Photo

by on 10/27/14 | No Comments

Older Entries >

Lenders...

PROSPER HITS ANOTHER RECORD: $100 MILLION IN APRIL ORIGINATIONS

Just one month after announcing that we crossed $1 billion dollars in loans, I’m happy to report that we’ve hit another significant milestone. In April, a record $100 million in loans was originated through the platform. This is up 400% from one year ago and 30% month-over-month. More importantly, it is indicative of the incredible momentum we’re seeing for peer-to-peer lending as more people turn to Prosper to fund large purchases, start a small business or refinance high-interest debt.

Along with this rapid growth, Prosper has continued to invest in customer service. It is our intention to offer borrowers and lenders the absolute best customer service. To accomplish that goal, we have been hiring the right team members, streamlining operations and improving our technology infrastructure to continually deliver a faster and more transparent borrowing and investing experience. I look forward to sharing a number of enhancements to member communications, mobile functionality and member benefits along with profiles of several new members of the Prosper team in the coming months.

In April, Prosper also welcomed Macy Lee to the Executive team as the Chief Financial Officer. Macy has a proven track record of helping businesses grow from early stage to established industry leaders. Most recently, she was CFO of eBay Australia, the country’s largest eCommerce site. In that role, she was responsible for Controllership, FP&A, Strategy, Business Analytics, and Facilities, and was instrumental in defining and executing its business strategy. Prior to her position as CFO, Macy spent nearly 11 years in various finance and business roles at PayPal and eBay, as well as Oracle, Target, and Sichuan Provincial Economic & Trade Commission in China.

As we head towards early May, we are busy gearing up for the second annual LendIt 2014 conference, being held May 4-6th in San Francisco. Once again, Prosper is a leading sponsor and President Ron Suber will deliver the first day’s closing remarks, with a presentation titled: From Disruption to Revolution: The Tipping Point of Online Direct Consumer Lending. We will post a video of his speech following the conference. For more info on the conference you can visit www.lendit.co.

As always, thanks to everyone for their involvement on our platform – the amazing growth we have seen in the last 15 months would not have been possible without you. Please keep the feedback coming, and check back for more good news in the near future.

Aaron Vermut
CEO

 

by on 05/1/14   [ 3 ]

Prosper Gives Back: A Social Timeline Recap

As of yesterday, the Prosper Gives Back campaign has come to a close. After hitting our $1 billion dollar mark, we connected with the whole Prosper community, we spoke with you guys, and we celebrated our butts off! While giving out $2,000 a day was exhilarating and fun, the greatest reward to us was hearing from the individuals in our community and finding out how Prosper impacted their lives. Hearing that we were able to make a difference in someone’s life, no matter how small, is the reason why we started in the first place.

We compiled the most insightful, interesting, funny, poignant, and thought-provoking Tweets and posts about the giveaway, and let them tell the story:

It started with a quiet announcement on our social media sites, and immediately community members hopped aboard and helped trumpet the announcement to the world!


…including a shout out from one of our international P2P peeps!





We watched as Prosper members came together and connected…



2014-04-10_1122
2014-04-10_1126
2014-04-10_1129


We got some people to explore social media for the first time… 




2014-04-10_1111

And we found ourselves in places we never imagined, like in poems…



2014-04-10_1053



and even books!





But the greatest still was just hearing your real stories, and knowing that we could instill a little bit of hope and stability in our members.




2014-04-10_1059

2014-04-10_1106
2014-04-10_1109
2014-04-10_1115

So thanks again everyone for talking to us and making Prosper what it is today, we hope you’ll stay tuned to our social media sites for ongoing personal finance tips and articles, and let us know in the comments below what kind of content you care about most. Continue leaving us feedback and comments on our Facebook and Twitter – we read and value each and every post! We look forward to the next opportunity to connect with you again.

by on 04/10/14   [ 0 ]

Older Entries >

Borrowers...

PROSPER HITS ANOTHER RECORD: $100 MILLION IN APRIL ORIGINATIONS

Just one month after announcing that we crossed $1 billion dollars in loans, I’m happy to report that we’ve hit another significant milestone. In April, a record $100 million in loans was originated through the platform. This is up 400% from one year ago and 30% month-over-month. More importantly, it is indicative of the incredible momentum we’re seeing for peer-to-peer lending as more people turn to Prosper to fund large purchases, start a small business or refinance high-interest debt.

Along with this rapid growth, Prosper has continued to invest in customer service. It is our intention to offer borrowers and lenders the absolute best customer service. To accomplish that goal, we have been hiring the right team members, streamlining operations and improving our technology infrastructure to continually deliver a faster and more transparent borrowing and investing experience. I look forward to sharing a number of enhancements to member communications, mobile functionality and member benefits along with profiles of several new members of the Prosper team in the coming months.

In April, Prosper also welcomed Macy Lee to the Executive team as the Chief Financial Officer. Macy has a proven track record of helping businesses grow from early stage to established industry leaders. Most recently, she was CFO of eBay Australia, the country’s largest eCommerce site. In that role, she was responsible for Controllership, FP&A, Strategy, Business Analytics, and Facilities, and was instrumental in defining and executing its business strategy. Prior to her position as CFO, Macy spent nearly 11 years in various finance and business roles at PayPal and eBay, as well as Oracle, Target, and Sichuan Provincial Economic & Trade Commission in China.

As we head towards early May, we are busy gearing up for the second annual LendIt 2014 conference, being held May 4-6th in San Francisco. Once again, Prosper is a leading sponsor and President Ron Suber will deliver the first day’s closing remarks, with a presentation titled: From Disruption to Revolution: The Tipping Point of Online Direct Consumer Lending. We will post a video of his speech following the conference. For more info on the conference you can visit www.lendit.co.

As always, thanks to everyone for their involvement on our platform – the amazing growth we have seen in the last 15 months would not have been possible without you. Please keep the feedback coming, and check back for more good news in the near future.

Aaron Vermut
CEO

 

by on 05/1/14   [ 3 ]

Prosper Gives Back: A Social Timeline Recap

As of yesterday, the Prosper Gives Back campaign has come to a close. After hitting our $1 billion dollar mark, we connected with the whole Prosper community, we spoke with you guys, and we celebrated our butts off! While giving out $2,000 a day was exhilarating and fun, the greatest reward to us was hearing from the individuals in our community and finding out how Prosper impacted their lives. Hearing that we were able to make a difference in someone’s life, no matter how small, is the reason why we started in the first place.

We compiled the most insightful, interesting, funny, poignant, and thought-provoking Tweets and posts about the giveaway, and let them tell the story:

It started with a quiet announcement on our social media sites, and immediately community members hopped aboard and helped trumpet the announcement to the world!


…including a shout out from one of our international P2P peeps!





We watched as Prosper members came together and connected…



2014-04-10_1122
2014-04-10_1126
2014-04-10_1129


We got some people to explore social media for the first time… 




2014-04-10_1111

And we found ourselves in places we never imagined, like in poems…



2014-04-10_1053



and even books!





But the greatest still was just hearing your real stories, and knowing that we could instill a little bit of hope and stability in our members.




2014-04-10_1059

2014-04-10_1106
2014-04-10_1109
2014-04-10_1115

So thanks again everyone for talking to us and making Prosper what it is today, we hope you’ll stay tuned to our social media sites for ongoing personal finance tips and articles, and let us know in the comments below what kind of content you care about most. Continue leaving us feedback and comments on our Facebook and Twitter – we read and value each and every post! We look forward to the next opportunity to connect with you again.

by on 04/10/14   [ 0 ]

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Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.