Best yet, not only does Google maintain their investment in payday loans via LendUp, but there is also a bubble in the personal loans space, so Google will be able to show effectively the same ads for effectively the same service & by the time the P2P loan bubble pops some of the payday lenders will have followed LendUp's lead in re-branding their offers as being something else in name.
A user comment on Google's announcement blog post gets right to the point... Are you disgusted by Google's backing of LendUp, which lends money at rates of ~ 395% for short periods of time? Check it out. GV (formerly known as Google Ventures) has an investment in LendUp. They currently hold that position.
Meanwhile, off to revolutionize the next industry by claiming everyone else is greedy and scummy and there is a wholesome way to do the same thing leveraging new technology, when in reality the primary difference between the business models is simply a thin veneer of tech utopian PR misinformation.
Posted by
Austin Riley
SEO Expert, Marketer
Born and raised in a small village near Gatwick, Austin moved to London after graduating from the University of Surrey with a BSc in Business Studies, which is where he fell in love with Marketing. Since graduating, Austin has worked for a marketing capability consultancy managing a variety of client projects including Aviva, Hewlett Packard, Honda, Tesco and Vodafone.
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Thanks to the author for such a useful article. It is really important for me to be informed about Google updates.
ReplyThank you!
Reply