Remember Lendle? It is the e-book lending site that got in trouble with Amazon in the past (had its API access revoked). The site is back in the news but this time around for a different reason. It is up for sale. The 3 co-founders are looking to exit this business.
We love being part of an industry on the move and taking on some of the tough issues surrounding ownership and digital content, but our primary goal has always been to create the best social-lending site we could build… With that in mind, we’re looking toward the idea of selling Lendle to someone (or a group of someones) who is interested in building upon our successes, and taking the community to the next level.
There is no question that there is a market for social lending. With the right amount of funds, Lendle could move to the next level in its offerings. But Lendle’s business model needs a lot of work. The site has fulfilled 70k loan requests in the past year. While that is decent, it will hardly impress those interested in buying this business.
We do wish the folks at Lendle good luck with their future endeavors. The idea behind the site was certainly exciting. At this point, it is not clear how much they are asking for their business though.