On Friday, Doug Fuller gave an update on the debt sale.
Synopsis: Prosper put the bid file on an auction site, 8 bids received, all the bids were very disappointing, Prosper has not accepted a bid yet, and is exploring options for getting a better deal.
When asked how disappointing Doug Fuller further responded via comment…
Ok so then the next question is how bad is that?
Looking at the December results we see that the range of bids was from 2.8%-14.5%. Extrapolating, that would mean the current bids where roughly 0.93%-4.83%… I would say that is pretty disappointing… (I received a little over 25% from my 1st loan in a debt sale.)
I am willing to let Doug Fuller find other options… 3 cents on the dollar sucks.
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