Google Ventures Partner Blake Byers joined LendUp’s board of directors with his firm’s investment. The investor said he expects LendUp to make short-term lending reasonable and favorable for the “80 million people banks won’t give credit cards to,” and help reshape what had been “a pretty terrible industry.”
What sort of strategy is helping to drive that industry transformation?
How about doorway pages.
These sorts of doorway pages are still live to this day. Simply look at the footer area of http://ift.tt/1rXbGWd
This in spite of last year Google going out of their way to say they were going to kill those sorts of strategies.
March 16, 2015 Google To Launch New Doorway Page Penalty Algorithm
Google does not want to rank doorway pages in their search results. The purpose behind many of these doorway pages is to maximize their search footprint by creating pages both externally on the web or internally on their existing web site, with the goal of ranking multiple pages in the search results, all leading to the same destination.
Today we get
journalists conduits for Google’s public relations efforts writing headlines like: Google: Payday Loans Are Too Harmful to Advertise.
Today those sorts of stories are literally everywhere.
Tomorrow the story will be over.
And when it is.
Precisely zero journalists will have covered the above contrasting behaviors.
As they weren’t in the press release.
Best yet, not only does Google maintain their investment in payday loans via LendUp, but there is also a bubble in the personal loans space, so Google will be able to show effectively the same ads for effectively the same service & by the time the P2P loan bubble pops some of the payday lenders will have followed LendUp’s lead in re-branding their offers as being something else in name.
Meanwhile, off to revolutionize the next industry by claiming everyone else is greedy and scummy and there is a wholesome way to do the same thing leveraging new technology, when in reality the primary difference between the business models is simply a thin veneer of tech utopian PR misinformation.
Don’t expect to see a link to this blog post on TechCrunch.
There you’ll read some hard-hitting cutting edge tech news like:
Banks are so greedy that LendUp can undercut them, help people avoid debt, and still make a profit on its payday loans and credit card.