P2P Forum

Lending Club Discussion => Foliofn - LC => Topic started by: latitude42 on May 13, 2020, 11:00:00 PM

Title: Goldman to buy Folio
Post by: latitude42 on May 13, 2020, 11:00:00 PM
Has anyone read about Goldman Sachs plans to purchase Folio? I wonder what effect that could have on note trading.

https://www.reuters.com/article/us-goldman-sachs-m-a-folio/goldman-sachs-to-buy-boutique-wealth-management-custodian-folio-idUSKBN22Q2RA

https://www.folioinvesting.com/folioinvesting/home/
Title: Goldman to buy Folio
Post by: Fred93 on May 14, 2020, 11:00:00 PM
Wow.  Makes folio instantly "legit" in the eyes of many folks.  ...which sounds good for LC investors.

On the other hand, Marcus is a direct challenge to LC's business, which makes one wonder whether LC can trust GS as a partner.

But LC cares so little for the retail investor these days that they probably no longer care whether folio is a good partner or a bad partner.

Title: Goldman to buy Folio
Post by: Rob L on May 14, 2020, 11:00:00 PM
I wonder how much of Folio's revenue and income result from the trading platform used for LC notes (and similar assets of other companies Prosper before it ended its relationship with Folio)? If it's a small and only modestly profitable part of the business Goldman could take it internal for its products only or possibly kill it. Given Marcus it's kinda hard to imaging GS providing trading services for LC notes.

Yes, I agree LC probably couldn't care less.
Title: Goldman to buy Folio
Post by: AnilG on May 14, 2020, 11:00:00 PM
What surprised me more is the acquisition price which most likely is less than 500M I expected Folio to be worth much more than 500M required for disclosure of purchase price.
Title: Goldman to buy Folio
Post by: TravelingPennies on May 15, 2020, 11:00:00 PM
FWIW in comparison LC's current market cap is $378M and its book value is about $800M.
Total cash is $308M or $4.41 per share. Shares closed Friday at $5.41.
Short interest is 8.7% of the float. Is Mr. Chen still a buyer?
Title: Goldman to buy Folio
Post by: maerice on June 28, 2020, 11:00:00 PM
from: Fred93 on May 15, 2020, 12:52:40 AM
Title: Goldman to buy Folio
Post by: macroman7799 on August 06, 2020, 11:00:00 PM
from: Rob L on May 15, 2020, 10:34:30 AM
Title: Goldman to buy Folio
Post by: t_b_o_t on August 21, 2020, 11:00:00 PM
from: macroman7799 on August 07, 2020, 09:58:04 PM