Activist Investor Gets Involved at OnDeck

New York-based hedge fund Marathon Partners Equity Management LLC is actively pushing OnDeck Capital to reduce costs and reach profitability more aggressively than it has already outlined; the firm owns approximately 1.75% of the company’s outstanding shares; Mario Cibelli is the primary spokesperson for Marathon Partners and says he contacted members of the board in March to urge for deeper cost reductions and analysis on a potential sale; it is likely that Marathon Partners could gain a board nomination from the discussions; OnDeck Capital could also see more involvement from hedge fund shareholder EJF Capital LLC which has said in public filings that it may also reach out to the company to discuss its future strategy.  Source