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Black Friday Not Just For Shopping Anymore

by Prosper on 12/23/10

Recently we announced that lender bidding activity on our site surged 350% on Black Friday.

“The increased activity on Black Friday shows that people are looking to make every dollar go even further, whether purchasing a holiday gift or making an investment,” said Chris Larsen, chief executive officer and co-founder of Prosper.com. “As investors look to make their money work harder in 2011, peer-to-peer lending is becoming an increasingly appealing asset class for a broader range of investors.”

In addition to the Black Friday surge, Prosper also reported strong average returns compared to other peer-to-peer lending sites. In October, Prosper originated loans with a 10.69%* estimated return.  Prosper Statistics for October 2010 also available on the full Press Release.

Furthermore, according to independent website LendStats.com, which tracks the peer-to-peer lending industry based on publicly available data, lenders on Prosper are realizing average returns of at least three percentage points higher than on other P2P lending sites.*

“The findings by LendStats.com further validate that the new risk management measures we put in place more than a year ago have resulted in an overall improvement in loan performance,” Larsen added.

* Based on loan originations from August 2009 through December 2009.

Click here for backup explanation of chart.

*Expected Annual Return is the projected average annual return on funds invested in all loans with a certain Prosper Rating originated on our platform during the month of October, 2010. Expected Annual Return is calculated by subtracting the Expected Annual Loss Rate for those loans from the corresponding Lender Yield. The Expected Annual Loss Rate is the estimated principal loss on charge-offs for loans originated during October, and is based on the historical performance of Prosper loans for borrowers with similar characteristics. Expected Annual Loss Rate does not include estimated accrued interest not collected or estimated late fees. The calculation of Expected Annual Return and Expected Annual Loss Rate requires significant assumptions about the repayment of loans and lenders should make their own judgments with respect to the accuracy of these assumptions. Actual performance may differ from estimated performance.

Notes offered by Prospectus


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