An eBay For Person To Person Loans?
from the wants-money-from-a-stranger? dept
It seems like every dot com business model is still being pitched like a movie these days (“it’s like movie A meets movie B, but in Africa!”). Everything is always described in terms of the bigger players (“it’s like Paypal meets Friendster, but wireless!”). Generally, though, anything that needs to reference another business model to make it seem legitimate sounds more like the company is bandwagon hopping, rather than coming up with a really unique or compelling business model. Take, for example, the case of a company called Zopa, which might accurately be described as eBay meets Lending Tree. Basically, it’s a person to person lending service. If you’ve got a little extra spare cash that you’d like to lend out to someone, you pick the interest rates you want to charge, and this service will match you with someone who wants to take your money. Zopa, as the middleman, takes their cut, and everyone’s happy — until, of course, the person lending out the money learns the definition of “defaulting on a loan.” Then, they’ll need to find a service like eLoanShark that goes out and breaks some virtual knees.