Prosper - Competitive Landscape

Goals

To identify direct competitors of Prosper (www.prosper.com) and determine their investment in television and TV advertising to create a pitch for television commercials.

Early Findings

PROSPER COMPETITORS

  • Prosper is an online lending platform that connects people who want to borrow money with individuals and institutions that want to invest in consumer credit.
  • According to Craft.co, Prosper Marketplace's top competitors include:
    • SoFi: SoFi is a finance company offering a range of lending and wealth management services.
    • Avant: Avant is an online platform and a provider of credit alternatives to middle income consumers.
    • Lending Club: Lending Club is an online financial community that brings together creditworthy borrowers and savvy investors.
    • Upstart Network: Upstart is an online lending platform.
  • According to Crunchbase, Elevate Credit is another competitor of Prosper.

TV COMMERCIALS

  • On iSpot, SoFi has more than five Tv commercials in 2019.
  • Avant has only one TV commercial on iSpot.
  • Lending Club has two TV commercials on iSpot from 2018.
  • Upstart Network and Elevate Credit don't have pages on iSpot.
  • Upstart Network and Elevate Credit don't have pages on Youtube.

Proposed next steps:

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We recommend continuing with 3-hour research that looks more deeply at the three companies for which we found videos (SoFi, Avant, and Lending Club) to find out how these competitors are using TV commercials to promote their services. Advertising spends on TV commercials could be provided for each competitor (3 hours for each competitor). If this information is publicly unavailable, we will provide the competitor's overall advertising spends, additionally, any statistics related to these companies' marketing budgets will be provided.