In the Wireless & Cashless module provided as part of Money & Markets Extra for the week ending Saturday, June 27, The Associated Press reported erroneously the name of the CEO of Vouch, a startup that dubs itself a “social network for credit.” The correct name is Yee Lee.
A corrected version of the story is below:
Vouch, a startup that dubs itself a “social network for credit,” aims to use your social contacts to gauge if you are worthy of a loan – and how large.
Launched earlier this year, Vouch tries to differentiate itself in the alternative lending space by creating a social network for lending rather than using people’s existing networks such as Twitter and Facebook, says CEO and co-founder Yee Lee, who was an early employee at PayPal. In essence, your friends vouch for your creditworthiness.