Author Topic: revenue model  (Read 3679 times)

YellowSeed

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revenue model
« on: May 10, 2013, 12:13:01 AM »
Bryce,

I have been logging on to your site right around the time of the LC loan updates.  In a previous post you mentioned that you have adjusted your pricing to compensate for loans that were not funded, have you thought of adjusting the pricing due to loans being fully funded between your data grab and the time a user can realistically place an order for the loan.  I have noticed over the past couple days that there have been numerous instances where I click "Go" and the Lending Club web page says zero notes have been added to your order.

On a side note, I still have to clear my cookies from Safari on a daily basis in order to log on to your site.  I am still using 1password as clearing cookies is easier than typing in my long pasword.

Cheers

brycemason

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Re: revenue model
« Reply #1 on: May 10, 2013, 12:28:41 AM »
I don't know what to say about the cookies bahavior, sorry.

Can you tell me what time of day and time zone in which you experienced the missed picks?

The occasional missed pick is acceptable, but if it is happening over and over, I can see how that would be frustrating. I am working on a new method of running the models that will shave the time to process a Browsenotes file by 60%. After I achieve that, I should be able to adjust the cron job around the magic four hours to process things every minute rather than every five. Give me a few weeks to implement it. Lower priority but it's noted.

In the long run, and our highest priority, is integrating the API into the site and giving you the option (with a few switches for customization) of utilizing one of our strategies on auto-pilot. This would then eliminate the missed pick issue and improve your convenience a lot.

Thank you for the feedback!

Bryce

brycemason

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Re: revenue model
« Reply #2 on: May 10, 2013, 07:20:24 AM »
Actually, this point made me think of another nice electricity saver. We can simply post the list four times a day (when there are new loans) and when you click something in the list do an API call to see if the loan still exists on the platform before adding the fee or trying to link you to LCs site. Thanks for the feedback.

YellowSeed

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Re: revenue model
« Reply #3 on: May 17, 2013, 01:09:40 PM »
Hi Bryce,

I just logged on to get some notes and two of the picks were not added to my order as they were gone already.  I noted that these two picks were already 70+% funded when they showed up on your platform. 

Thanks for the great site, hope your model works!   ;)

brycemason

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Re: revenue model
« Reply #4 on: May 17, 2013, 03:36:51 PM »
Sorry about that. We're going to implement an API check to make sure the loan is still available soonish.