Windows Live Messaging Coming To Bebo

Bebo has announced a new partnership with Microsoft that will see the introduction of the Windows Live instant messaging service to Bebo’s social network.

The new service will allow Bebo users to chat to people outside of the Bebo network, from within Bebo itself. What makes the deal perhaps more interesting is that Bebo users will also now be recognized over the Windows Live platform; in effect the deal becomes a sort of merging of member databases. It’s also a first for Microsoft, who has remained somewhat distant from the growing social networking market to date.

Bebo continues to trail behind MySpace and Facebook in the United States in terms of traffic, but as confirmed by comScore August 15, is the most popular social networking site in the United Kingdom.

(via Reuters)

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Peer to peer lending service Lending Club will close a $10.26 million series A round of financing from Norwest Venture Partners and Canaan Partners tomorrow. This comes a few months after the company’s $2 million angel round. Coinciding with the investment, Jeff Crowe and Dan Ciporin (former ceo of shopping.com) are joining Lending Club’s board of directors.

Similar to other P2P lending sites (Prosper, Zopa, Kiva), LendingClub matches borrowers and lenders. However, LendingClub doesn’t work through their own website, but solely through Facebook on the application they launched at the F8 platform launch conference. Borrows and lenders a linked up using their “LendingMatch” system, which recommends loans based on credit and their social relationships to each other. The idea being that trusted relationships make lending more likely and defaults less likely. The application currently has over 13,000 installs.

Unlike Prosper, interest rates aren’t determined through bidding, but calculated based on the borrowers credit score, debt to income ratio, and amount of the loan. There are no hidden fees, and the interest rate is fixed for three years. In July the service surpassed $500K in loans. They recently claimed a little more than 4 out of 5 loans get funded and haven’t reported any defaults or late payments.

It’s still the early days for this industry, and as TC commenters point out, it’s very much a case of Caveat Emptor.