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Google Takes Minority Interest In Lending Club

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Lending_ClubGoogle has acquired a minority stake in online personal loans platform Lending Club, says the company.

The investment by Google came as part of a secondary transaction whereby new and existing investors acquired shares from existing investors. Buyers include Google and existing investor Foundation Capital.

As part of this investment David Lawee will take an observer seat on the Lending Club board alongside existing board members including Mary Meeker, John Mack and Larry Summers. 

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