Pros
Prosper experienced "rocketship" growth from 2013 to Jan 2016. Early this year we hit some stumbling blocks. These were primarily macro-economic in nature and impacted marketplace lending as a whole. Prosper's management team in May, made the difficult, but necessary decision to lay off a portion of the workforce. This lay-off was painful as the employees here had only experienced the fun and excitement that comes with working at one of the most successful pre-ipo companies. The sheer pace of Prosper's growth over a 2-3 short years, followed by sudden correction, exacerbated the employee backlash. However, in the real world all companies have ups and downs and take some risks that pay off and others that don't. The temporary market driven challenges in 2016 did expose some weaknesses in our business and in the management team (other reviewers have been correct to point out). The good news is that these weaknesses in our management team and business strategy have since been corrected or are in the process of being corrected. We're expecting a very successful 2017 and beyond.
Net net, it's a good company and a pioneer in marketplace lending. We experienced a rough patch in 2016 for sure, but there's a bright future for those that have the gut to stick with it through a lean year.
**The New CEO (internally promoted) is exactly what Prosper needed for the next chapter**
Cons
We used to have a monthly business update meeting, in addition to a monthly town hall/social. We're now just having a monthly town hall. Bring back the monthly business update meeting so that all levels of the company can feel involved in the month to month activities / financials of the business.
