Doug Lebda, the founder and CEO of LendingTree, died Sunday in an ATV accident, the company confirmed. He was 55.
“The LendingTree family is absolutely heartbroken,” the Charlotte-based firm said in a statement. Lebda, who launched the online loan marketplace in 1996, was widely credited with revolutionizing how Americans shop for mortgages and credit. His vision was to create a platform that helped borrowers compare offers without visiting multiple banks, encouraging competition among lenders.
Under his leadership, LendingTree went public in 2000, was later acquired by IAC/InterActiveCorp, and became an independent company again in 2008. The site now helps millions of users compare financial products, from home loans to insurance policies.
LendingTree’s board praised Lebda as “a visionary leader whose relentless drive, innovation, and passion transformed the financial services landscape.”
Scott Peyree, LendingTree’s chief operating officer and president, will now serve as president and CEO. Steve Ozonian, the company’s lead independent director, was named chairman of the board. Both appointments took effect immediately.