Innovative companies using technology to facilitate peer-to-peer online access to goods and services in this sharing universe of the 21st century, have sky-rocketed to billion dollar corporations in just a matter few years. It is part of the new On-Demand Economy.
2007 - Lending Club: Operates an online lending platform that enables peer-to-peer personal loans up to $40,000 to borrowers. It allows investors to loan money direct based on the credit report issued by Lending Club. Founded in 2007; revenue in 2014: $213 million.
2008 – Airbnb: An online hospitality service that advertises rooms, apartments, or whole houses for short-term rental to guests that do not want to use a hotel for their vacation time or business trips. Founded in 2008; revenue in 2015: $900 million.
2009 – Uber: Operates an online car transportation service listing vehicles for hire to customers that do not want to pay a conventional taxi cab service. Founded in 2009; revenue in 2016: $6.5 billion.
On-Demand Economy; Time Magazine – Vol. 185, No. 4, 2015