The Chinese online finance marketplace Lufax ($PRIVATE:LUFAX) is undergoing some light restructuring. And by light, we mean heavy. That doesn't mean the P2P lending is in trouble, but it's not the same business it was five years ago. Allegations of fraud in the industry, as well as rumors of the Chinese government controlling Lufax behind the scenes like puppet masters, don't necessarily help the company's case. The goal is to eventually branch out of lending and incorporate license holding, insurance deals, and funding onto the platform.
If you can get past all the outside noise, lenders and users on Lu.com have made a boatload of money. Like, almost $100 billion.
In the last three years, the massive amount of money people made using the website has gone up 87%. Lufax takes a 4% cut on everything, but as long as you can read Chinese you can use Lu.com to borrow or collect on some serious dough.
The increase in money is directly tied to the rise in users, which has gone up 81% over the last four years.
The company has been hiring at a solid clip for a while now (try our demo to get full access to all the data) but is still growing despite all the nonsense going on in the world right now.
Finally, Lufax gained 41% more followers on popular Chinese social media platform Weibo in the last three years alone. So if you wanted to feel left out for not using Lu.com, now you have the evidence to back it up.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.