Cash advance firm Wonga possess revealed a pretax loss in 37m, a difference from 2012 once the firm created 62m.
Here’s a schedule revealing the firm’s increase, and exactly how things have missing incorrect these days:
2006: Corporation started by Errol Damelin and Jonty Hurwitz
2007: Wonga launches beta form of the page
It provides finance as much as 1,000 repaid after around one month. It guarantees practically immediate judgements.
July 2008: Complete begin. At this stage the business uses 37 team in newcastle with a development organization from inside the Ukraine. Co-founder Damelin informs the Guardian that 50,000 visitors comprise served during the assessments phase and that he expected “to allow additional on the after that 12 months”.
December 2010: Sponsorship of New Year’s day trip attracts critique. Campaigners, as an example the work MP Stella Creasy, condemn purchase to allow for Wonga advertise across newcastle transportation in return for purchasing all-night transfer.
January 2011: Stella Creasy requires limit on worth of borrowing. The Labour MP seems to get a vote against what she refers to “legal money pro players”. The determination is turned down but needs an amount limit continue. Continue reading “Wonga timeline: from great start to negative financial loans”