[staten]

Yes-lending club will be a major in the premium market. Sean-Rapid was not valued at $100m. The press release noted the ENTERPRISE value. (equity plus debt less cash) So--the equity may have been valued at $1 million with $100 million in debt and $1 million in cash. That is a $100 million enterprise valuation. It means jack! Maybe it was a great multiple maybe it wasn't. That is smoke and mirrors marketing (what else is new in MCA!).

LC is $1.5 million EQUITY valuation. Apples to oranges.

[staten]

Yes-lending club will be a major in the premium market. Sean-Rapid was not valued at $100m. The press release noted the ENTERPRISE value. (equity plus debt less cash) So--the equity may have been valued at $1 million with $100 million in debt and $1 million in cash. That is a $100 million enterprise valuation. It means jack! Maybe it was a great multiple maybe it wasn't. That is smoke and mirrors marketing (what else is new in MCA!).

LC is $1.5 million EQUITY valuation. Apples to oranges.

meant billion

[Sean Cash]

you are right. I rushed over the enterprise part. I made an update to what I wrote.

[Sean Cash]

As it turns out I also botched the reference to dealstruck.com. Dealstruck.com is known to many as the Lending Club of Small Business Loans but it is not actually related to Lending Club. Now that Lending Club does small business loans too, they should be known as the themselves of small business loans.