14 thoughts on “Baked in Facebook, Social Lending StartUp Raises VC Cash”

  1. @cdub – it’s not “random” people, it’s people you either know from school or from some group. Whether or not you loan that person money is up to you as a lender.

    @Prashant – they are alive and doing quite well from what we read.


  2. @ugh – please go to the site, and read the information. All the information is laid out in plain English for you. If there is something you do not understand, just leave a comment on the fb forum or even the blog. You can also send an e-mail. Someone will get back to you as soon as possible to address any concerns you might have.


  3. I thought that Lending Club is very smart to start off in facebook first, and one of the earliest app at that. It gave them instant pool of user base and credibility.

    One thing I do hope for Lending Club to expand to is to lighten the restriction of the minimum credit score, and let the interest rates be more market driven. I know Prosper is doing this, but Lending Club can benefit by allowing the option for lenders to participate if they choose to.

  4. I was thinking along the same lines. The only thing that seems somewhat at odds is that on the one hand you have Facebook as a potential testbed for start-ups who hope to gain funding to move out to the broader web beyond FB’s walled garden, and on the other hand Facebook is supposedly trying to become the practical web for its users (e.g. their attempt to open up email). While these two things aren’t exclusive, my money is currently on the friction caused by Facebook’s attempt to expand.

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  7. I would find it very worrying to lend money to someone I didn’t know! I guess you need the security of a large company behind you. Thanks

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