LendingClub Files for IPO; SnapChat Valued at More Than $10B

By: , dated August 27th, 2014
U.S. stocks end the day mixed as the S&P 500 pushes further into record territory. It seems like SnapChat CEO, Evan Spiegel, made a good decision when he turned down Facebook’s (FB) offer to purchase the company for $3 billion, as SnapChat is now valued at more than $10 billion. The company recently fetched a huge round of funding from one of Silicon Valley’s most powerful investors. LendingClub, the largest provider of peer-to-peer loans in the U.S., announced plans to raise approximately $500 million in the form of an IPO. LendingClub is extremely popular due to its primary focus on consumer loans.

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