LendingClub

O’Melveny represented the underwriters, led by Morgan Stanley & Co. LLC in the US$1 billion initial public offering of LendingClub Corporation (LendingClub) on the New York Stock Exchange. LendingClub is the world’s largest online marketplace connecting borrowers and investors, and its marketplace has facilitated over US$6 billion in loan originations since it first launched in 2007. The LendingClub IPO garnered significant media attention and is one the 10 biggest IPOs by US tech companies ever, the largest IPO of a California company this year, and the second largest US tech offering of the year by a US company. The IPO is also the first public offering for an alternative lender, and stands at the intersection between the traditional financial services sector and the emerging peer-to-peer technology sector.