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Prosper.com Microfinance - SVMN.net mtg 2007-09-10
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Prosper.com Microfinance - SVMN.net mtg 2007-09-10

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Prosper.com presentation at 9/10/07 SVMN meeting.

Prosper.com presentation at 9/10/07 SVMN meeting.

Published in: Business, Economy & Finance
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  • Transcript

    • 1. Prosper Marketplace
    • 2. Prosper is like an “eBay for Money”
      • Marketplace for money
        • Brings together borrowers with people who have money to lend
        • Administers lending process including payments and collections
      • New asset class
        • Anyone with as little as $50 can lend
        • Community decides where and why to grant credit
      • Leverages power of community
        • Groups and endorsements provide shame, acquisition and support
    • 3. Existing Consumer Credit Markets Institutional Markets - Wall Street Community Lending - Early US S & L’s - Informal Asian Lending
      • Good : borrower shame/loyalty
      • Good : low marketing costs
      • Bad : risky - no diversification
      • Good : great diversification
      • Bad: no borrower loyalty
      • Bad : high marketing costs
      = Borrowers = Lenders
    • 4. Prosper combines best of both markets Group Leader marketing = Lenders = Borrowers = Group Leader Lender diversification Borrower reputation Friends, Endorsements reputation/marketing
    • 5.
      • $900 billion US credit card market
      • Announced Japan JV - $200 billion market
      Market Size – Unsecured consumer credit Source: SMR Research 2005 and Financial Services Agency of Japan 2006
    • 6. Prosper Stats Users: 410,000 Loans by $: $87,000,000 Borrower Loans: 15,000 Promissory Notes: + 1.2 million Payments to Lenders: 2,500,000 Discussion Posts: 370,000
    • 7. Backing
      • VC Backing
        • $40 million raised
      • Outside Directors
        • Jim Breyer, Accel Partners
          • Wal-Mart, Facebook
        • Bob Kagle, Benchmark Capital
          • eBay, E-Loan
        • Larry Cheng, Fidelity Ventures
          • Verid Board
        • Paul Hazen
          • Former CEO Wells Fargo
    • 8. Listings
    • 9. Listing Summary
    • 10. Group Information
    • 11. Endorsements from Friends
    • 12. Bid History
    • 13. Deep Operational Integration Banking and Finance Collection Agencies Credit Reporting Agencies Anti-Crime Scheduled: Fall ‘07 Scheduled: June ‘07 Scheduled: Fall ‘07
    • 14. First Wave (Web 1.0)
      • What was New:
        • Streamlined existing processes
        • Value creation = disintermediation
      • What was the Same:
        • Source of value was the company
        • Company dictated the product
      Offline Online Product Books Stocks Loans
    • 15. Second Wave (Web 2.0)
      • What is New
        • The Source of Value changed
          • The Company  The People
        • The Company’s Role changed
          • Central Role  Supporting Role
        • The Exchange of Value changed
          • Company-to-People  People-to-People
      Web 1.0 Web 2.0 Product Video Guides Loans
    • 16. But what about all the other Web 2.0 Stuff?
      • XML
      • AJAX
      • ASP
      • RSS
      • Wiki
      • SOAP and WSDL API’s
      • Big Rounded Logos
      X No People = No Value
    • 17. What if there were no people?
    • 18. Range Of Issues
      • State licensing requirements
      • State usury and fee limitations
      • Securities laws – state & federal
      • State disclosure requirements and other lending regulations
      • Truth in Lending Act
      • Equal Credit Opportunity Act/discrimination laws
      • Fair Credit Reporting Act
      • Fair Debt Collection Practices Act/state collection laws
      • Electronic Funds Transfer Act
      • E-SIGN Act/Uniform Electronic Transactions Act/UCC Article 3
      • FTC Act and Unfair and Deceptive Trade Practices Acts
      • Federal (Gramm-Leach-Bliley Act) and state privacy laws
      • Data security laws
      • Bank Secrecy Act/USA PATRIOT Act/OFAC
      • Money Transmitter Licensing
      • Federal Deposit Insurance
      • Bankruptcy
      • Tax
      • Website agreements and disclosures
      • ACH authorizations
      • Communications Decency Act

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