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Report: Chinese conglomerate eyeing 10% stake in online lender Prosper

Prosper Marketplace Inc. has been approached by China-based Linca Industrial (Fujian) Group Co. Ltd. for a potential investment by the Chinese conglomerate in the online lender, The Wall Street Journal reported, citing "people familiar with the matter."

Both entities are in discussions regarding a deal under which Linca Industrial would buy a 10% stake for $50 million. Such an investment would value Prosper at approximately $550 million, a far cry from the $1.9 billion valuation when Credit Suisse Group AG's Next Investors-led investors provided $165 million to the company.

Sources told the Journal that Prosper would use Linca's investment to grow its business and diversify should there be any opportunities.