CHARLOTTE, N.C. — Doug Lebda, the founder and chief executive of LendingTree and a pioneer of online consumer lending, died Sunday in an all-terrain vehicle accident at a family farm in North Carolina, the company said. He was 55.
“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” LendingTree’s board of directors said in a statement. “His passion will continue to inspire us as we move forward together.” A company spokesperson confirmed the location of the accident but provided no additional details.
LendingTree shares fell more than 4% in afternoon trading Monday following the announcement.
Lebda launched LendingTree in 1996 after struggling to secure his first mortgage, setting out to streamline the way Americans shop for loans. The platform rolled out nationally in 1998 and went public in 2000 before being acquired by IAC/InterActiveCorp; it spun out again as an independent company in 2008. Today, LendingTree operates a broad online marketplace for mortgages, personal loans, credit cards, insurance and more, and owns financial information brands including CompareCards and ValuePenguin.
Over nearly three decades at the helm, Lebda became one of fintech’s most recognizable leaders. “All of my ideas come from my own experiences and problems,” he told The Wall Street Journal in 2012. Outside LendingTree, he co-founded Tykoon in 2010, a financial education and services platform for children and families, and earlier worked as an auditor and consultant at PricewaterhouseCoopers.
Lebda is survived by his wife, Megan, and their three daughters — Rachel, Abby and Sophia. “He was an amazing man with a heart so big it seemed to have room for everyone he met,” Megan Lebda said in a statement. “Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world.”
LendingTree said it is grieving Lebda’s unexpected death and will provide further updates on leadership and operations “in due course.”
