Prosper Strengthens Management Team

Business Wire, March 19, 2007

Rob Klapper Appointed CMO and Kirk Inglis Appointed CFO

SAN FRANCISCO -- Prosper (http://www.prosper.com), America's first people-to-people lending marketplace, today announced the appointment of consumer financial services marketing veteran Robert Klapper to the position of Chief Marketing Officer, and finance and operating performance expert Kirk Inglis to the position of Chief Financial Officer.

"These leadership appointments strengthen our management team and will help us continue to scale the marketplace and create a mass market for people-to-people lending," said Chris Larsen, Co-Founder and Chief Executive Officer of Prosper.

As Chief Marketing Officer, Rob Klapper, 47, is responsible for growing the Prosper marketplace and community as well as overseeing the company's marketing and customer experience initiatives.

"I am thrilled to join Prosper's vibrant community," said Rob Klapper, Chief Marketing Officer of Prosper. "Prosper is uniquely positioned to transform America's credit marketplace and I am excited to work with our community to help change the face of lending for the benefit of consumers."

Rob has over twenty years of experience driving growth and building brands for top tier companies, including 21st Century, Charles Schwab and Colgate-Palmolive. Prior to Prosper, Rob served as Chief Marketing Officer at 21st Century where he helped re-ignite growth by transforming the firm's marketing capabilities. At Charles Schwab, Rob led six businesses that contributed to the firm's exponential growth during his 14 year tenure at the firm. As Senior Vice President and General Manager at Schwab, he helped drive a turnaround of the company's core Independent Investor business, built the Schwab Advisor Network, and established the Insurance offering. Rob holds an M.B.A. from the University of Virginia's Darden School and a B.A. from Franklin & Marshall College.

As Chief Financial Officer, Kirk Inglis, 40, is responsible for optimizing the financial and operating performance of Prosper by focusing on core variables and improving the productivity of resources.

"Prosper has created an environment that gives consumers the opportunity to participate in a marketplace for money that has traditionally been limited to wealthy individuals and institutions," said Kirk Inglis, Chief Financial Officer of Prosper. "As a finance professional, being able to contribute to the development of this marketplace is very exciting."

Kirk brings over 15 years of experience in the financial services industry to Prosper. Most recently he consulted Wells Fargo Bank on the effectiveness of their online marketing programs. Prior to Wells, Mr. Inglis spent 9 years with Providian Financial Corporation. While at Providian, he served as President of First Select Corporation, the largest purchaser of charged-off credit card debt in the United States. In addition, he served as Chief Financial Officer of GetSmart.com following its acquisition by Providian. Mr. Inglis also developed the financial planning and control infrastructure for Providian Financial Corporation following the spin-off from its parent company in 1996. Mr. Inglis earned a MBA in Finance from Memphis State University and a B.A. in Economics from the University of Texas at Austin. He is a Chartered Financial Analyst (CFA) and a member of the CFA Society of San Francisco.

About Prosper

Prosper (www.prosper.com), America's first people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone. Prosper's membership consists of over 200,000 people from across the country. Since launching in February 2006, over $40 million in loans have been funded in the marketplace.

The way Prosper works is intuitive to people who have used eBay. Instead of listing and bidding on items, people list and bid on loans using Prosper's online auction platform. People who want to lend on Prosper set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, people who lend can consider borrowers' personal stories and group affiliations. Groups on Prosper are critical to bringing people together for the common goal of borrowing at better rates. People who want to borrow on Prosper create loan listings for up to $25,000 and set the maximum rate they are willing to pay a lender. Then the auction begins as people who lend bid down the interest rate. Once the auction ends, Prosper takes the bids with the lowest rates and combines them into one simple loan to the borrower. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrowers and lenders.

Prosper was co-founded by Chris Larsen, co-founder of E-LOAN, and John Witchel, technology entrepreneur. Backed by Accel Partners, Benchmark Capital, Fidelity Ventures, and Omidyar Network, Prosper has raised approximately $20 million. Prosper's marketplace platform is patent pending.