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Prosper Marketplace

About Prosper Marketplace

As many of you know, Prosper is a startup, burning thru venture capital, and near the end of its cash. As a result, Prosper needs a substantial new injection of cash within the next 6 months, or else. It was therefore a welcome development when Prosper announced that on November 11 Nigel Morris, a co-founder of Capital One, had made an investment in – more... Prosper. Examination of SEC filings shows us that this investment was only $1 million, a very small amount, and also that this investment was in the form of a bridge loan, at 15% interest, and came with a warrant kicker and a position on the board of directors. This investment is not the substantial investment we've been waiting for. Its just a bridge. Bridge to what we're not quite sure. Does the appearance of Morris signal the beginning of a change of control?

On November 11, 2009, Prosper filed its official quarterly report (10Q) with the SEC. – lessMore from ZoomInfo »

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