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LendingClub shares debut to 56% stock rise

LendingClub, a kind of Kickstarter for loans, saw its stock soar more than 60% in its first day of trading Thursday before closing up a hefty 56.2%.




LendlingClub (LC), which matches borrowers with lenders, including individual lenders, soared to as high as $25.44 a share at its open, up 69% from its $15-a-share initial offering price. The stock ended the day up 56% to $23.42 a share.


The new share price gives the San Francisco tech company a valuation of about $8.5 billion. LendingClub and its investors raised almsot $900 million through the sale of 58 million shares in the largest U.S. tech IPO of 2014.


Chinese e-commerce company Alibaba (BABA) held the largest tech IPO of 2014 after raising a record $25 billion in September.





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