February 28, 2015 2:05 AM ET

Internet Software and Services

Company Overview of LendingClub Corporation

Company Overview

LendingClub Corporation operates as an online marketplace that facilitates loans to consumers and businesses in the United States. The company also offers investors an opportunity to fund the loans. As of December 31, 2013, its marketplace had facilitated 240,322 loans. The company was founded in 2006 and is headquartered in San Francisco, California.

71 Stevenson Street

Suite 300

San Francisco, CA 94105

United States

Founded in 2006

843 Employees

Phone:

415-632-5600

Key Executives for LendingClub Corporation

Founder, Chief Executive Officer and Director
Age: 43
Total Annual Compensation: $314.6K
Chief Financial Officer and Principal Accounting Officer
Age: 49
Total Annual Compensation: $314.6K
Chief Operating & Marketing Officer
Age: 44
Total Annual Compensation: $314.6K
Chief Risk Officer
Age: 55
Total Annual Compensation: $270.0K
Chief Technology Officer
Age: 44
Total Annual Compensation: $387.5K
Compensation as of Fiscal Year 2013.

LendingClub Corporation Key Developments

LendingClub Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year 2015

LendingClub Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company’s total operating revenue was $69,551,000 compared to $33,485,000 a year ago. Total net revenue was $68,121,000 against $33,497,000 a year ago. Loss before income taxes was $8,706,000 against income before income taxes of $2,858,000 a year ago. Net loss was $9,037,000 or $0.07 per basic and diluted share against net income of $2,858,000 or $0.00 per basic and diluted share a year ago. Adjusted EBITDA was $7,916,000 compared to $6,514,000 in the same period last year. Adjusted net income per diluted share was $0.01 compared to $0.02 in the same period last year. Adjusted net income was $4,235,000 compared to $5,794,000 a year ago. For the full year, the company’s total operating revenue was $213,412,000 compared to $97,975,000 a year ago. Total net revenue was $211,128,000 against $98,002,000 a year ago. Loss before income taxes was $31,504,000 against income before income taxes of $7,308,000 a year ago. Net loss was $32,894,000 or $0.44 per basic and diluted share against net income of $7,308,000 or $0.00 per basic and diluted share a year ago. Adjusted EBITDA was $21,301,000 compared to $15,227,000 a year ago. Net cash provided by operating activities was $14,525,000 compared to net cash used in operating activities of $15,063,000 a year ago. Adjusted net income per diluted share was $0.04 compared to $0.04 in the same period last year. Adjusted net income was $12,657,000 compared to $13,591,000 a year ago. The company provided earnings guidance for the first quarter and full year 2015. For the quarter, the company expected operating revenue in the range of $74 million to $76 million and adjusted EBITDA in the range of $6 million to $9 million. For the full year, the company expected total revenue in the range of $370 million to $380 million and adjusted EBITDA in the range of $33 million to $42 million.

Lending Club Partners with BancAlliance

Lending Club announced a new partnership with Alliance Partners, which manages the BancAlliance network. Through this partnership, members of BancAlliance will be able to offer access to co-branded personal loans to their customers through the Lending Club platform, as well as purchase certain of these consumer loans and others for their portfolios. This program is designed to give community banks and their customers access to the benefits of the Lending Club platform's low cost of operations paired with the banks' low cost of capital to help drive down the cost of credit for consumers.

LendingClub Corporation Presents at The Goldman Sachs Technology & Internet Conference, Feb-10-2015 02:40 PM

LendingClub Corporation Presents at The Goldman Sachs Technology & Internet Conference, Feb-10-2015 02:40 PM. Venue: Palace Hotel, 2 New Montgomery Street, San Francisco, California, United States.

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