Europe 1
It could have been sailing champion, but he preferred to ride the wave of Wall Street. Renaud Laplanche, a French entrepreneur, 44, is undergoing a true success story across the Atlantic with its participatory finance company. His startup loans between individuals, Lending Club, raised $ 870 million in its IPO in New York. Thursday, Renaud Laplanche even had the privilege to ring the bell at the opening of Wall Street. Europe 1 tells you the success story of this “Frenchy” out to conquer America.
The video of the opening of Wall Street by Renaud Laplanche (from 4 minutes 10):
From sailing HEC . Before planting his flag in the United States, Renaud Laplanche was destined for a nice career in sailing. In the early 1990s, “it is even crowned champion of France of Laser dinghies crossed alone”, as recalled by the Echos . But he prefers to continue his studies and began a course in law before fall from rocks an MBA at HEC in Paris. The starting point of his American history.
A successful entrepreneur . In 1999, Renaud Laplanche is hired by a law firm Cleary Gottlieb Steen and Hamilton, and was sent to New York as told Point . He resigned and then creates the Matchpoint Company, a search engine for companies that resell ten million to US giant Oracle in 2005. But success is far from having started his hunger for success.
He invented a new market . The French then has an idea: to create a lending platform between individuals. In 2007, Renaud Laplanche realizes that US banks lend money at exorbitant prices, with interest rates of up to 18%. In San Francisco, he then founded Lending Club, a platform of loans between individuals on the internet. The principle: the company connects individuals, who lend money, with the key to lower interest rates than the market. His company, which is compensated by taking a commission, becomes leader of this yet totally nonexistent market.
Google seduced by the French. The idea then seduced great names of finance. Former Treasury Secretary Lawrence Summers and John Mack, the former head of the Morgan Stanley investment bank and sit on its board of directors. Above all, a giant of the internet became interested in the company Renaud Laplanche. Google, no less, spent $ 100 million to enter the group’s capital. Result: The company is now valued at nearly $ 5.4 billion
sensational entrance on Wall Street In the first nine months of 2014.. Lending Club has generated more than $ 4 billion of loans to individuals and small businesses. The loans range from 35,000 to $ 100,000, with an average annual rate of about 6.78%, against a national average of 9.06%. And customers are waiting for you. So much so that the input to the Wall Street created by Renaud Laplanche start-up is one of the ten largest IPOs in history for an Internet group.
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