How much does Lending Club spend on marketing and sales?
Lending club is likely spending at least $13 million per year on sales and marketing based on their 10Q filing, and that number is growing quickly.
$16 million per year on “sales, marketing & customer support” ($4m per quarter)
- $1.5 million for sales/support staff (conservative guess, 20 people at $75k/yr)
- $1.5 million for other sales expenses (travel, etc.)
= $13 million on sales and marketing
* According to their 10-Q filing, for the quarter (only 3 months) ending September 2011 lending club spent over $4 million on sales, marketing, and customer service. This is a run rate of $16 million per year (4 quarters * $4 million per quarter = $16 million per year).