Author Topic: Prosper's Latest Annual Report (10-K forms) released  (Read 4855 times)

Simon

  • Jr. Member
  • **
  • Posts: 51
    • View Profile
    • LendingMemo
    • Email
Prosper's Latest Annual Report (10-K forms) released
« on: April 01, 2014, 02:52:51 PM »
Came out yesterday. First one since the new management took over.

http://edgar.sec.gov/Archives/edgar/data/1416265/000114036114014832/0001140361-14-014832-index.htm

Interesting to see the breakdown of company ownership (pg 103):

Quote
As of March 27, 2014, there were 13,425,863 shares of common stock outstanding.  If all preferred stock, warrants and options were converted into shares of common stock, there would be 46,560,897 shares of common stock outstanding as of March 27, 2013.  On a fully diluted as-converted basis, PMI’s officers, directors and 5% shareholders would own the following percentages of PMI’s stock, as of March 27, 2013:

Dawn Lepore: 0.00%
Rajeev Date: *
Pat Grady: 24.73%
Christopher Bishko: 1.05%
Stephan Vermut: 7.55%
Aaron Vermut: 7.55%
Ronald Suber: 7.55%
All directors and executive officers as a group: 49.02%
Accel Partners: 11.18%
Agilus Ventures: 2.90%
Draper Fisher Jurvetson: 3.52%
IDG Capital Partners: 11.18%
Meritech Capital Partners: 2.41%
Sequoia Capital: 24.73%
BlackRock: 5.00%
Garrison: 5.00%
Stephan Vermut: 7.55%
Aaron Vermut: 7.55%
Ronald Suber: 7.55%
Writes at the peer to peer lending site LendingMemo.

Peter

  • Administrator
  • Hero Member
  • *****
  • Posts: 754
    • View Profile
    • Lend Academy
    • Email
Re: Prosper's Latest Annual Report (10-K forms) released
« Reply #1 on: April 02, 2014, 12:35:38 AM »
Thanks for sharing Simon. Very interesting reading.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

Fred

  • Hero Member
  • *****
  • Posts: 1421
    • View Profile
Re: Prosper's Latest Annual Report (10-K forms) released
« Reply #2 on: April 02, 2014, 01:15:16 AM »
Can somebody explain the chart below (from page 20)?

Per Prosper: "The graph below displays the overall level of delinquency for Prosper Funding Borrower Loans and PMI Borrower Loans, collectively, on a calendar basis."



The delinquency rates for 31+ days lates (light blue) are mostly lower than those of 30- days lates (dark blue).  I would expect the 31+ days lates should have higher delinquency rates.

Zach

  • Administrator
  • Hero Member
  • *****
  • Posts: 622
    • View Profile
    • Email
Re: Prosper's Latest Annual Report (10-K forms) released
« Reply #3 on: April 02, 2014, 06:26:25 AM »
Was Chris Larsen bought out when the Vermut team came on board?

Fred93

  • Hero Member
  • *****
  • Posts: 2116
    • View Profile
Re: Prosper's Latest Annual Report (10-K forms) released
« Reply #4 on: July 24, 2014, 05:53:22 AM »
Was Chris Larsen bought out when the Vermut team came on board?

He was severely diluted by the many cycles of VC investment, so I suspect he owns very little now just because of dilution.  I haven't tried to calculate it tho.