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Prosper Returns to Peer-to-Peer Lending Marketplace...And Then Exits Again | Add Comment

    • your article is out of date 5/11/2009
    Prosper has closed down again. Apparently their new business model still requires SEC approval.

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      • Prosper has CLOSED again 5/11/2009
      Please fact check before posting. Prosper's "re-launch" was a fiasco, and they have been closed and in a *new* Quiet Period for the past week. Prosper, who pledges transparancy wile keeping its users constantly in the dark, claims it was because of an "outcry" (their word) from would-be lenders from the 49 states where Prosper did not reopen that inspired them to close again. (??) Those who have watched Prosper closely over the past 3 years suspect that a couple of posts on the Prosper blog that flamed the SEC might be the *real* reason Prosper (and its blog) have gone "quiet" again. Few borrowers had listed in the brief time Prosper was reopened. Most of the loans were loans used-car financier CPS was trying to unload at premiums well above the original values of the loans. All the writer of this piece had to do was to visit the Prosper website or blog in the past 5 days or so to learn that Prosper had re-closed its doors.

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      • Oops - nevermind 5/11/2009
      Two days *prior* to the date of this article, Prosper shuts down again. From their website, "...due to regulatory concerns, and in the interest of working toward getting our registration statement effective as soon as possible, we are discontinuing our California intrastate offering at this time." Prosper hired a lobbying firm. So this might take a while....

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