Prosper is topping out the headlines today with the announcement that the firm is undertaking some big, big staff cuts and some serious shuffling of its executive positions.
The firm's CEO, Aaron Vermut, noted in an email to The Wall Street Journal that the move has become necessary as the firm is adjusting its strategy.
“With the recent tightening of the capital markets, we are refocusing on our core consumer loans business," he said.
Prosper is one of several online-based marketplace lenders suffering from falling profits as investor interest in buying consumer loans is softening. So just how rough is the sledding?
$1.9 billion | Prosper's valuation as of its last funding run in 2015, when it raised $165 million from Credit Suisse Group AG, J.P. Morgan Chase & Co., SunTrust Banks Inc., Neuberger Berman Group LLC, USAA Inc. and other firms.
$973 million | Prosper's total Q1 2016 loan volume. That is a 12-percent decrease from the $1.1 billion Prosper loaned out in Q4 2015.
$204 million | Prosper's total revenue for 2015. The firm also racked up $26 million in losses. As of yet, Prosper has not turned a profit.
$40 million | What Prosper paid to acquire medical-lending firm American Healthcare Lending LLC and personal-finance startup Billguard Inc. The dedicated medical bill facility in Utah has been shut down as part of latest reshuffle.
171 | The total number of jobs Prosper is shedding, which adds up to 28 percent of their total staff and 14 percent of the staffs in San Francisco and Phoenix.