This week OnDeck Capital filed its S-1. This summer the P2P leader, LendingClub, filed as well. The S-1s are rich with information about the two companies and the market. Successful IPOs for both companies will be great for the industry and investors.
In August, LendingClub filed to go public; Morgan Stanley and Citigroup are also underwriters on the deal, the filing said. The company is expected to raise more than $500 million with the IPO at a $5 billion valuation, according to press reports... If LendingClub does well with its IPO, other web-based lenders will likely follow, sources said. On Deck Capital, which provides a platform for small business lending, filed to go public this week. Investors include First Round Capital, Google Ventures and Tiger Global. In October, LendingClub said it would trade on the New York Stock Exchange under the ticker symbol “LC.” The company, however, has not disclosed how many shares it would sell in its IPO or the offer price. That information will likely come in future offerings.