Author Topic: Is that really Lending Club's building in the photo?  (Read 7789 times)

core

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Is that really Lending Club's building in the photo?
« on: May 21, 2013, 02:20:44 AM »
Lending Club has a photo of this building on the 'About Us' page:


Is that really their building?  They have a suite number in their mailing address which doesn't make sense.  And why would a company with only 81 employees need a 6+ story building??  The reflection of the USA flag seems suspect at that angle.  The whole image seems more fake than the moon landing shots.

Can we sue for FRAUD? :)

This reminds me of people who sell downloadable software and photoshop a picture of a BOX for their web page.  C'mon, a freaking box?  Oh yeah, now that I can see a cardboard box which isn't even real I'm really going to pay for this zip file.   Sheesh.

SarahV

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Re: Is that really Lending Club's building in the photo?
« Reply #1 on: May 21, 2013, 02:55:00 AM »
Hard to really tell what the scale is from that photo. Perhaps it's a one-story building with some luxuriant shrubs in front of it... ;)

rawraw

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Re: Is that really Lending Club's building in the photo?
« Reply #2 on: May 21, 2013, 04:47:15 AM »
You do know that just because a company has its logo on the building doesn't mean it occupies all the space?  Lendingclub could just be one floor.

core

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Re: Is that really Lending Club's building in the photo?
« Reply #3 on: May 21, 2013, 06:43:03 AM »
You do know that just because a company has its logo on the building doesn't mean it occupies all the space?  Lendingclub could just be one floor.

Sure, a company might have its logo on the building if it owned the whole thing or was a buku important tenant.  Neither of which strike me as likely here.

Here's 71 Stevenson San Francisco, their mailing address.  Shown from the front:



That is obviously a different building from the first one, no matter what angle you'd observe it from.  On LC's careers page it lists all the perks of working at the location and they all point to that downtown SF location.  There's even a map for candidates.  Nowhere does it mention a 2nd location, and they sure as heck would for transportation planning purposes if they were hiring for that other building.

So what you're asking me to believe is an 81 employee company buys a multisory building separate from their main headquarters, isn't hiring anyone to work there at the moment, doesn't tell anyone what the address is, but just keeps paying expensive rent at the Stevenson Place 3rd floor.  This other white building is just some secret legion of doom.   That's what I should believe?

No, Occam's razor says that we are the victims of a massive conspiracy to defraud, initially perpetrated by some graphics design monkey armed with a copy of Photoshop.  I hope he's having a good laugh because he will have to live with what he has done for the rest of his natural life.  Or perhaps he had an unfortunate "accident" after producing the image to keep him quiet.


Fred

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Re: Is that really Lending Club's building in the photo?
« Reply #4 on: May 21, 2013, 07:26:09 AM »
Might be relevant:





core

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Re: Is that really Lending Club's building in the photo?
« Reply #5 on: May 21, 2013, 07:53:30 AM »
Thanks Fred.

Curiouser and curiouser.  From a visible phone number it's Redwood City.  For the second one the photographer claims it was taken in 2010.   So either the photographer is part of the conspiracy or this is truly legit. :)

Maybe they moved?  Time to do some homework and find out what LC's address is/was in Redwood.  Then I can call up the satellite image, get the angle on those windows, then see if there's really a flagpole where there should be.

Fred

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Re: Is that really Lending Club's building in the photo?
« Reply #6 on: May 21, 2013, 09:53:15 AM »
Sounds like a private investigator talking.  :)

Please do let us know what you discover.

New Jersey Guy

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Re: Is that really Lending Club's building in the photo?
« Reply #7 on: May 21, 2013, 11:19:58 AM »
  You guys are all off!

Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

rawraw

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Re: Is that really Lending Club's building in the photo?
« Reply #8 on: May 21, 2013, 04:35:06 PM »
HA HA HA +1

mitgib

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Re: Is that really Lending Club's building in the photo?
« Reply #9 on: May 21, 2013, 04:46:51 PM »
  You guys are all off!

That's as good as this image I found of their database


PennySaved

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Re: Is that really Lending Club's building in the photo?
« Reply #10 on: May 21, 2013, 05:01:34 PM »
Peter mentioned in a post in the Prosper section that reason for Lending Club moving to San Francisco from the relatively low rent Redwood City in 2011, was to have]access to capital. There are plenty of VC's, hedge funds, and other large financial institutions with money in SF and that is why they chose to locate there in his opinion.

New Jersey Guy

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Re: Is that really Lending Club's building in the photo?
« Reply #11 on: May 21, 2013, 05:12:34 PM »
"That's as good as this image I found of their database"

That's just part of the problem!  For all you who have wondered why your interest and Folio payments take days to settle, I found their central time computer.


Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

Peter

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Re: Is that really Lending Club's building in the photo?
« Reply #12 on: May 21, 2013, 05:23:38 PM »
This has turned into quite an amusing thread but I thought I should set the record straight.

The building in the initial photo is their old offices in Redwood City, CA. They moved to downtown San Francisco in 2011 but they maintain a satellite office at Redwood with a handful of employees there. They also maintain naming rights on that building. It is good advertising because I believe you can see it from the interstate. But the photo of Stevenson Place is where they maintain their head office. They also have an office in NYC.

Oh, and they are up to about 150 employees right now, two full floors, and adding new staff every week.
« Last Edit: May 21, 2013, 05:25:22 PM by Peter »
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core

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Re: Is that really Lending Club's building in the photo?
« Reply #13 on: May 21, 2013, 08:45:52 PM »
You guys are all off!

Yeah, in more ways than one. ;)  Absolutely hilarious.  There's a ring of truth in that image.

This has turned into quite an amusing thread but I thought I should set the record straight.  (...)

Thanks Peter.  I wonder why they'd maintain this satellite office in Redwood with actual humans, when that wouldn't be necessary for preserving the naming rights.  And wouldn't a billboard be much cheaper? :) 

150 employees now?  That's what I get for getting my information from wikipedia, which I generally abhor.  I had assumed the information there would be more current in this case with all the new interest.

There are plenty of VC's, hedge funds, and other large financial institutions with money in SF and that is why they chose to locate there in his opinion.

The funny/sad part is this is probably exactly the right answer.  Redwood City is about 25 miles from San Francisco.  It's close enough that it may as well be the same freaking city.  But oh no, you have to have a building right around the street corner or else people won't hobnob with you, riiiight?  And hedge fund managers won't fork over cash to a well known company unless they can walk right in and see cubicles.  I can see Laplanche now.... "Come on over to my playhouse guys, look at my CUBICLES!  And here's the coffee maker, and I've even got a RECEPTIONIST!  Just look at all this stuff!"  These hedge fund managers will charter a private jet to Montana to see a horse ranch but can't take a 30 minute drive to investigate a multi billion dollar industry that is a whole lot more transparent from the filings.   

Absolutely ridiculous.  But I have no doubt that's the true answer.  5% hobnobbing, 95% ego.  That method of investigation worked real well for the Madoff feeder funds, didn't it? 

J2E

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Re: Is that really Lending Club's building in the photo?
« Reply #14 on: May 21, 2013, 10:21:20 PM »
Reminds me of this: