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BloggingStocks, Gary E. Sattler, Feb-11-2008
Prosper.com is one of the most amazing things I have ever seen and a grand statement of the pioneering spirit that keeps the wheels of prosperity in motion.
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Stock Picks Bob's Advice, Feb-10-2008
Currently, I am depositing $50 to my Prosper.com account twice/month. In addition, I have added other $50 deposits to the account to bring it up to its current status.
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WalletPop, Zac Bissonnette, Feb-10-2008
The sudden stinginess of credit card issuers is likely to flush a lot of borrowers onto sites like Prosper.com, which arranges loans between individuals.
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CreditBloggers, Emily Davidson, Dec-5-2007
You may have heard about Prosper.com. With 500,000 members and $100 million in loans, this site is the leader in generating peer-to-peer financing.
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Hyve Up, Nov-6-2007
How could a P2P lend & borrow social network be a major economical changing factor? Well, first consider the role of credit in the American culture.
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The Consumerist, Nov-5-2007
Looks like a pretty good setup to us. Has anyone used Prosper.com? How did it work out for you?
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Erick Schonfeld, TechCrunch, Oct-31-2007
One of the most disruptive startups in the financial industry is Prosper, a peer-to-peer lending marketplace. Since its launch in February, 2006, Prosper has attracted more than 450,000 members who have loaned $96.4 million to each other. There is so much liquidity on Prosper now that the startup wants to create a secondary market for loans on the site.
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Julie Sloane, Wired, Oct-31-2007
On Prosper, a San Francisco-based online peer-to-peer lending service with 460,000 members and $96.4 million loaned since its launch in 2006, announced today that it filed an S-1 form with the SEC in order to start a secondary resale marketplace for its loans.
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Dan Kaplan, VentureBeat, Oct-31-2007
Prosper, the leader in the small but rapidly growing peer-to-peer lending market, has decided to create a $500 million secondary market for these loans.
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Jim Bruene, NetBanker, Oct-5-2007
Attendees at the FINOVATE 2007 conference voted on their favorite financial product or service from among the 20 innovations presented.
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Christopher Langlois, Visible Banking, Oct-2-2007
I had the chance to spend a couple of minutes with Chris Larsen, Founder and CEO of Prosper. Chris is famous in the industry, he was previously the Chairman & Founder of E-Loan in the US.
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Stephen Oakes, Jutia Group, Sep-19-2007
Chris Larsen, CEO of Prosper, recently called me to discuss his company and some of the exciting new developments in the works.
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Lindsay Campbell, Wallstrip, Aug-31-2007
Need a loan? We can’t help you, but Chris Larsen, CEO of Prosper.com, just loves to give money away!
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Ron Lieber, FiLife, Aug-27-2007
In preparation for the launch of this blog, I created a small list – one solely focused on personal finance. These aren't things I want to do before I die. Instead, this list contains things that I need to reexamine or know I should be doing regularly.
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Nick Gonzalez, TechCrunch, Aug-5-2007
Peer to peer lending startup, Prosper, is expanding operations to Japan and other Asian countries as a shared partnership with Tokyo-based SBI Holdings, Inc. SBI will be helping prosper navigate Asia's regulatory environment.
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Marketing for Good, Aug-1-2007
While I don’t believe Gordon Gecko had it right with "greed is good", a little green (as in cash) can do a lot of good. I will be watching with interest to see how Prosper helps others prosper.
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Dr. Moneybags, Jul-31-2007
Whether you want to earn high interest rates (up to 20%) or borrow money from complete strangers online, Prosper.com makes it happen.
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P2P Banking, Jul-27-2007
There is a huge incentive since new lenders that sign up through the referral program get credited $25 as well to their account.
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Radical Congruency, Jul-22-2007
Democracy in lending. Take that, Wilmington, Delaware! Seriously, I like the idea of borrowing from another person, even if I'm paying nearly the same rate, just because I object to the marketing tactics that credit card companies use.
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Social Lending Watch, Jul-19-2007
SLW is proud to present the sixth in our series of "Authoritative Reports", which showcase stories from individuals that have first-hand experience in the world of Social Lending. Roger Steciak has been lending on Prosper since the summer of 2006.
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Tom, Prosper Lending Review, Jul-13-2007
Tim's brother-in-law is in college and is having trouble making ends meet. Tim wants to help him out but is "not keen on the idea of just loaning him money directly." The brother-in-law just lost his job and is asking for about $10,000 to pay for his car, rent, and food. In my opinion, Prosper is a great solution. Here's why.
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Michael Arrington, TechCrunch, Jun-20-2007
P2P lending site Prosper is doing well enough to swallow another $20 million in venture capital, the company is announcing today. The company has now raised $40 million in capital.
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Make Money Blog, Jun-10-2007
Prosper is an amazingly intuitive, simple and useful money-lending idea. Prosper has grasped a very basic and long-overdue business model and turned it into an online marketplace.
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Lazy Man and Money, Jun-8-2007
Having been a member of Prosper.com for about 16 months now, I decided to give a round-up of what I've learned. I'm going to break this up into three areas: The Reason to Borrow Money, The Reason to Lend Money, and The Case for the Little Man.
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Nail Communications, Jun-2007
If the big-wigs at MBNA or Capital One sleep well at night, then it's because they haven't really gotten their heads around what this site means. It is called Prosper, and it is basically eBay for borrowers. It is a brilliant idea and the most powerful example of the transformative power of "Web 2.0" I have come across to date.
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Random Thoughts, May-27-2007
Have you ever needed money for something important, and counted on a bank to fund your request? I'm sure most of us fall under that category. What are you to do if the bank doesn't decide to lend you money? Until recently, the only option might have been family or friends to lend you the cash. Now there is another option...it goes by the name of Prosper.
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Jim Bruene, NetBanker, May-10-2007
In March, traffic to the person-to-person lender Prosper.com was four-fold that of January, growing to more than 1 million unique visitors. That puts it in rarefied company, approximately the same as a top-20 bank such as SunTrust, which according to Compete had just 10% more traffic in March.
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Prosperous PF Strategies, Apr-20-2007
Any lender that has perused the Prosper marketplace can see the wide variety of credit data that make up each credit grade. Have you ever seen a "B" grade borrower's credit data, only to exclaim "how in the heck is this a B?!"
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The Bankwatch, Apr-20-2007
Very clear description of the Prosper model. Prosper brings a combination of the advantages of traditional community markets with capital markets. Investments as a security class are coming.
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Web 2.0 Expo 2007, Apr-18-2007
John Witchel, CTO of Prosper, could be a stand-up comedian in his own right. He dished out funny anecdotes but at the same time made his point clearly. Web 2.0 is really not about the technology, Witchel stressed, it's about the people.
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Prosperous PF Strategies, Apr-13-2007
Think like a bank when analyzing listings. It is more important to maximize your Average Annual Return (which includes defaults and service fees) than it is to try to maximize your Average Interest Rate, or to match the expected default performance provided by Experian.
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The Rancho Commons, Apr-13-2007
The GREAT news is that I got this loan to pay off ~$4600 on a credit card that is robbing me at 28.4%, so my payment to Prosper is only a few dollars more than my minimum payment to this card. That's awesome.
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Adam Nash, Psychohistory, Apr-9-2007
Since I had trouble finding a solution for this online, I thought I'd post my solution here. Feel free to comment if you've found a better way to track Prosper loans in Quicken.
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John Ince, PodTech.net, Mar-17-2007
Think eBay for money. That's pretty much what Chris Larsen, CEO of Prosper.com has developed in the peer-to-peer lending network that is building a community of lenders and borrowers while trying to take a slice of the $1 trillion consumer lending market. This is the first in a four part series.
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Chris Langlois, Visible Banking, Mar-14-2007
Rob and I were participating to the same panel on web 2.0. Rob is a great guy, and even though he joined Prosper.com (a really exciting company, in an exciting space!) only 3 months ago, Rob showed a lot of enthusiasm and passion for Peer-to-Peer and their Social Lending market place!
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Stock Market Alerts, Feb-27-2007
If I had the means to invest in a company like Prosper.com, I would instantly do so. Prosper.com is one of the coolest ideas for a website that I have seen in a long, long while.
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Daily Pundit, Feb-19-2007
You've heard about how the big, smart money thrives by facilitating today's credit-based economy. But did you know that you, too, can get in on the action directly? Prosper can help you take your first steps to an exciting future investing in financial instruments.
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Ask the Advisor, Feb-14-2007
While there are only a handful of sites to choose from within these three categories, expect this banking revolution to grow as the 'sexiness' factor within the grassroots borrowing and lending venue increases.
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Lazy Man and Money, Feb-13-2007
I got an e-mail yesterday from Prosper's CEO Chris Larsen. I wasn't alone, I'm sure that at least every lender got one. As Prosper gears up for it's first birthday, they've found the need to make a few changes. Here I will outline them and what they mean.
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Money Walks, Feb-12-2007
It is gratifying to see that a concept I have been touting since the early days I've been blogging has been implemented. Lenders will now be protected from their irrational impulses.
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Jim Bruene, NetBanker, Feb-12-2007
At its first annual user meeting, which kicked off today in San Francisco, Prosper unveiled a number of changes to its person-to-person lending exchange.
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Timmy Watson, Chicagoist, Feb-11-2007
Making over $27 million in loans, Prosper.com is becoming more and more of a real alternative to banks. The website provides micro-financing to borrowers with all types of credit.
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philrosati.com, Feb-11-2007
For a few months, ever since Karen told me about it, I've been interestedly watching Prosper.com, a peer-to-peer lending site. As of late, it is particularly tempting because of it's relatively assured rate of return of about 8-10%. This is much higher than the 5% CDs we've been getting at Colonial Bank.
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Aviva Directory, Feb-7-2007
Got a business idea but little or no capital? Prosper is a new type of peer lending service which brings individual lenders and small business borrowers together.
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Money Under 30, Feb-1-2007
Last October I wrote that I had applied for a $11,500 credit card debt-consolidation loan from the unique person-to-person lending network Prosper. Here's an update to how this amazingly cool service has helped me.
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Lazy Man and Money, Jan-19-2007
I had mentioned previously that for a number of reasons, it's very difficult to earn 10% interest on your money. However, I think I found a way to do it. Of course there's some risk involved. For those who get squeamish about the possibility of losing money, you might want to look away - this could get ugly.
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RateLadder.com, Jan-8-2007
One of the big problems with a CD Ladder is the finite number of times you can withdraw money without a fee. Another big problem is length of time it takes to build a fully extended ladder. These problems are mitigated with Prosper.com so I thought I would review their $50,000 dollar example within the framework of my standing order strategy and see the results.
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Money Walks, Jan-5-2007
There is a whole cottage-industry that sprang up around Prosper. First there are the statistics sites that present Prosper data in new and innovative ways, then there are additional forums where people can gather to chat about Prosper and lending and finally, there are blogs about Prosper.
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Paul Graham, Dec-9-2006
The smart way to money management, personal finance, and investing is to use the right tools — tools that aren't so intimidating that you'll ignore them after a while. This guide to the top 25 web 2.0 applications should help you with the above will come in handy when it comes to managing all your money concerns.
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Prosperity, Nov-18-2006
If we all stick together, can we live without banks? Not likely, but the online move toward so-called peer-to-peer lending suggests some of us are ready to try.
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Svetlana Gladkova, Profy, Nov-08-2006
"We believe that the personal connection people can make on the site is vital to perpetuating a system of people-to-people lending - that is why we allow anyone who has passed through our verification process to participate on the platform. This allows the marketplace, not a formula, to decide what is important or worthwhile in a borrower, while also maintaining a strong return on a lender's money."
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Michael Arrington, TechCrunch, Oct-30-2006
On Tuesday Prosper.com, a person-to-person lending site that launched in February, will announce a couple of fairly significant milestones: 100,000 members and $20 million in funded loans.
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James Littlejohn, AboyneJames, Oct-28-2006
The real genius I think is that you can just buy a small portion of the loan e.g. 10k loan, I may just want to buy $100 worth and I also get to set the interest rate e.g. 15%.
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Jason, Coach Thrasher, Oct-26-2006
After listening to Chris Larsen speak about Prosper Marketplace on the Stanford Entrepreneurial Thought Leaders Seminar podcast, I had to check it out. Lo and behold, there's a group for Rowers and Scullers! But, there are no members? Who needs a loan for a new boat or new boathouse? Probably lots of people.
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Nate Ritter, Oct-12-2006
"Our goal is to create the de facto marketplace for people-to-people lending that allows borrowers and lenders to trade money safely and efficiently at the best rates possible."
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Zach Maxfield, Bankstocks.com, Aug-29-2006
I joined Prosper because I a) wanted to get an up-close-and-personal look at how it works and b) don't mind the idea of earning an attractive return. So far, I've lent $1,250 to 25 individuals, at rates ranging from 8% to 28.75%. Along the way, I've kept a journal of how things go, which I'll update from time to time. Herein is the first installment:
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Janis Pettit, Small Business, Big Results, Aug-28-2006
Ultimately if there's a strong need in the marketplace, eventually someone will come along and fill it. That's just what Prosper has done in recognizing the huge numbers of small business owners who need funding. If you're looking for a simple way to finance your small business, click here to learn how.
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James Gardner, Bankervision, Aug-25-2006
Prosper.com have taken the unusual step of allowing you to query their business model directly. You can get all the information you wanted about how much business they are writing, the default and arrears rates, and much more. This is a smart move on their part: it makes their business transparent.
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Seeds of Growth, Aug-23-2006
There are a couple of web sites out there that are marketing to entrepreneurs who need money. They are creating what are known as peer lending networks. It is an attempt to hook up those who need money with those who have money.
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Kara Parlin, Thought Mechanics, Aug-13-2006
I had the opportunity to speak with Prosper CEO and co-founder Chris Larsen to learn more about the company's people-to-people lending web site. It looks like a great tool that gives borrowers more control over their loans and gives people the chance to invest on a more personal level.
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James Gardner, Bankervision, Jul-26-2006
In the Long Tail thesis, when you have democratization of production, you get markets with a lot of choice - an explosion of niche products. When you add in zero or low cost distribution and declining information asymmetries, all those niches sell.
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Hot From Silicon Valley, Jul-13-2006
Prosper has been doing microfinancing, and you are bringing what I call "a silent revolution" to financing. Tell us about what you're doing...
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The Business of America is Business, Starling Hunter, 6-Jul-2006
Yes, that's right. The title of this post is "Loan Dolphins." I coined the term to describe a new online lending service, Prosper, that is I think, the opposite of what "Loan Sharks" do.
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It's Your Money, Jun-10-2006
It takes a guy like "Jeff" to run a Prosper group like Fanafi Financial. With a recent headcount of around 450 members, Fanafi ("Find a Need and Fill It") has burgeoned to eyebrow-raising levels. If there is such a thing as a Prosper Mega-Group, then Fanafi is one.
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IT Week blog, Lem Bingley, Jun-5-2006
On the face of it, it seems like you'd have to be nuts to lend cash to a stranger over the internet, irrespective of whatever interest rate they might promise to pay. But Prosper has clearly thought hard about how to establish trust credentials, so that its idea might work in a world with no shortage of phishers, fraudsters, and con-artists.
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Alpha, the CNET blog, Rafe Needleman, May-22-2006
The Web is becoming more than a community of content and ideas: it's becoming a financial community as well. The latest example of this is Prosper, the site for peer-to-peer lending.
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Inside Rod's Head..., May-4-2006
By creating a marketplace where the participants have only to adhere to few simple rules, greater cohesion is created, and an environment of trust is not only forthcoming, but instilled as a precondition to conduct business.
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Johnnie Moore's Weblog, Apr-18-2006
A few days ago, James and I chatted over Skype with Chris Larsen and John Witchel of Prosper... Prosper is a fascinating Web 2.0 innovation, and I hope you'll listen.
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James Cherkoff, Modern Marketing, Apr-18-2006
It's early days for Prosper and Zopa but both have a Skype-style whiff about them in the way that they have managed to undermine massive, established marketplaces by empowering individuals and using distributed technologies. And from a marketing perspective, it's interesting to see a company where the business model is the market position.
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My Money Forest, Apr-17-2006
The folks at Prosper were generous enough to grant me an interview and answer some of my questions. Thank you! Here's what I came away with…
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Elsa, The greener side, Apr-9-2006
Prosper encourages borrowers to join one of its groups, which can add street cred to a credit score. You can start your own group or join one of the nearly 600 clusters already created by veterans, doctors, college alumni, green-minded people, etc.
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50 bucks, Apr-5-2006
I mean, come on people! $50 to start investing?! This is unprecedented in my very brief investing life. Even though I've saved very little thus far in life, this whole Prosper thing has been very invigorating. It combines all my favorite aspects of investing, saving, and gambling, all in one tidy package! How can you get better than that? You can't.
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Claire, Tired but happy, a family finance blog, Apr-7-2006
Prosper is still my favorite new toy. If I'm not checking to see if any of my group members have a new loan listing, I'm checking to see if any of my borrowers have made a loan payment. And when I'm bidding on a loan, it's even worse.
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Dave Taylor, The Intuitive Life Business Blog, Mar-22-2006
It's hard to imagine how this isn't some huge scam magnet and I even wonder about the legal implications, tax consequences and, yes, even whether Homeland Security would have concerns. So I asked them some questions, and Prosper's Chief Technology Officer John Witchel was kind enough to answer them...
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Springwise, Mar-15-2006
Prosper has added a number of community elements, the most important one being groups. Designated group leaders confirm that everyone in the group is real, and by joining a responsible group with a good payment history, borrowers get a good reputation by association, and lenders are more likely to offer good interest rates.
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Mariva's Guide, Mar-7-2006
... an innovative financial startup that facilitates person-to-person lending — for example, a blogger in California lending $500 to a cafe owner in Maine — via a system that CEO and E-Loan co-founder Chris Larsen hopes to become "the eBay of loans."
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PureVC, Mar-3-2006
The most elegant aspect of this startup is that it solves a simple problem without creating anything. In one hand you have people who need money, in the other hand you have people who can lend it. Bridge these two groups with a web-based marketplace and you have what we call a true "pure play".
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The Bored Investor, Feb-22-2006
So the experiment begins. I am going to start with a meager $2,000. I guess I could have called this amout "substantial" as well. $2,000 is a lot of frosties! Anyway, I hope to keep updates on my progress in this blog.
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Personal Finance Advice, Feb-17-2006
As a personal blogger, I blog about my romantic life, my childhood traumas, my bad days and the band that's playing downtown this Saturday. I'm sure a whole lot of it seems really, really intimate. But what's truly the most intimate, what I find most difficult (read: terrifying) to blog about, is my finances.
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Christian Stöcker, Spiegel Online, Feb-14-2006
Mit einer neuen Geschäftsidee wollen einige Unternehmen das Kreditwesen vereinfachen: Über spezielle Plattformen werden Kredite versteigert wie bei eBay - wer den niedrigsten Zinssatz bietet, darf Geld verleihen. Verleiher sollen so verdienen, indem sie ihnen sympathische Menschen unterstützen.
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Pepe Cervera, Blogs 20minutos, Feb-14-2006
Un banco no es más que un intermediario: recoge el dinero que deposita Manuel, al que ofrece un bajo interés por guardarlo, y se lo presta a María, a la que cobra un interés mayor por dejárselo.
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Asaf Buchner, Jupiter Research, Feb-13-2006
The launch of Prosper last week is an interesting development in the nascent P2P lending space. Prosper creates an e-bay-like loan marketplace, where borrowers post listings for loans of up to $25,000, and lenders bid on the interest rate for which they will fund these loans.
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Lifehacker, Feb-13-2006
New web site Prosper.com takes the bank out of loans and lets users negotiate lending and borrowing online.
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Michael Santo, Real Tech News, Feb-13-2006
Want to lend money to a perfect stranger? Here's the way it works at Prosper.com: someone submits a request for a loan with the amount he needs and the maximum interest rate he will pay. Others "bid" on the loan, submitting how much they will loan and what rate they want.
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Francis Pisani, Transnets, Feb-13-2006
Deux des idées les plus importantes de la dynamique internet se trouvent au cœur de Prosper.com, une compagnie de San Francisco qui vient de se lancer sur le marché.
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MyMoneyBlog, Feb-13-2006
Banks have a great gig. Most pay you puny interest, and then turn around and lend it to credit card holders at 15-30% APR. A new start-up, Prosper.com, aims to shrink this gap by allowing individuals to lend directly to each other.
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Michael Arrington, TechCrunch, Feb-5-2006
San Francisco-based Prosper launched today (Prosper was called CircleOne during its stealth stage).
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