Tuesday, September 2, 2014

LendingClub Files For IPO

San Francisco-based LendingClub filed for its IPO last week, saying that it is looking to raise up to $500M in the offering. The company has not yet applied for a symbol or exchange. The IPO is being underwritten by Morgan Stanley, Goldman Sachs, Citigroup, Allen & Company, Stifel, BMO Capital Markets, William Blair, and Wells Fargo Securities. The firm's major institutional backers are Norwest Venture Partners, Canaan Partners, Foundation Capital, and Morgenthaler Venture Partners.