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July 02, 2015 10:42 PM ET

Consumer Finance

Company Overview of Social Finance, Inc.

Company Overview

Social Finance, Inc., doing business as SoFi, provides student loan refinancing services. It offers MBA loans and mortgages; personal loans to pay off credit cards, advance career, finance adventure, tie the knot, and other purposes; and issue mortgages for primary residences in California, Washington, North Carolina, Pennsylvania, Texas, New Jersey, and Washington, D.C. The company provides variable and fixed rate loans. The company was founded in 2011 and is based in San Francisco, California.

One Letterman Drive

Building C

Main Floor

Suite 250

San Francisco, CA 94129

United States

Founded in 2011

Phone:

866-357-6342

Key Executives for Social Finance, Inc.

Co-Founder, Chairman and Chief Executive Officer
Chief Financial Officer and Chief Operating Officer
Age: 55
General Counsel
Age: 60
Vice President of Product Development
Senior Advisor
Compensation as of Fiscal Year 2015.

Social Finance, Inc. Key Developments

Social Finance Reportedly Seeks IPO

Social Finance, Inc. (SoFi) is planning an initial public offering that would value the company at $3.5 billion, people with knowledge of the matter said. Social Finance may raise $500 million in 2015, said the people, who asked not to be named because the information is private. Social Finance plans to file its prospectus confidentially in the second quarter of 2015 and proceed in the second half of 2015, the people said. SoFi is planning to work with The Goldman Sachs Group, Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS) on the IPO, said the people. A representative for SoFi declined to comment, as did a spokesman for Goldman Sachs and a representative for Morgan Stanley wasn’t immediately reachable for comment, reported Bloomberg.

Social Finance Mulls Bigger IPO

Social Finance, Inc. intends to pursue a bigger initial public offering (IPO) as initially planned. In October 2014 the company was aiming at an IPO of $200 million to $250 million. During an interview on December 12, 2014, Mike Cagney, Chief Executive Officer, said that Social Finance executives are contemplating a larger target, but he declined to say how much more money they might try to raise.

Social Finance Mulls IPO

Social Finance Ltd is planning to launch an initial public offerig (IPO). Nino Fanlo, Chief Financial Officer of Social Finance, told IFR that Social Finance (SoFi) plans to go public in 2015. Fanlo said, "(In) mortgages we want to have a meaningful year. The level of that is flexible, but we intend it to be a meaningful solution for our customer base."

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