LendingTree Founder and CEO Doug Lebda Dies in Tragic ATV Accident at 55

LendingTree founder and CEO Doug Lebda has died tragically in an all-terrain vehicle (ATV) accident over the weekend, the company confirmed on Monday. He was 55 years old.

In a public release, LendingTree stated that the accident took place on Sunday at Lebda’s family farm in North Carolina, where he was enjoying time with loved ones. “Doug was a visionary leader whose unyielding passion, innovation and drive redefined the financial services marketplace, impacting the lives of millions of consumers,” the board of directors for the company stated in an issued statement. “His passion will continue to drive us as we proceed together.”

After his death, Scott Peyree, the president and chief operating officer of the company, has been named CEO as of today, the company said in its release. In addition, lead independent director Steve Ozonian will take Lebda’s place as chairman of the board, the company said.

Lebda’s unexpected death shook the business world. LendingTree shares of the Charlotte, North Carolina-based company plunged more than 4% on Monday afternoon after news of his death broke.

LendingTree was started by Doug Lebda in 1996 after experiencing firsthand the frustration of getting his own first mortgage. His vision was to make the loan-shopping experience easier for consumers – a concept that redefined how individuals shop and apply for financial services. The site debuted nationally in 1998 and went public in 2000, establishing itself quickly as the online lending leader.

It was purchased by IAC/InterActiveCorp before finally spinning off on its own once more in 2008. LendingTree currently functions as a middleman online marketplace that facilitates loan, mortgage, credit card, and insurance product comparison for end users. The firm also possesses respected financial brands such as CompareCards and ValuePenguin, solidifying its presence in the world of fintech.

Outside of LendingTree, Lebda also co-founded Tykoon in 2010 – a financial services platform designed to educate children and families about managing money. Before entering the entrepreneurial world, he worked as an auditor and consultant for PriceWaterhouseCoopers, acquiring hands-on experience with finance and business operations.

In a 2012 interview with The Wall Street Journal, Lebda revealed how he came up with his ideas, stating, “All of my ideas come from my own experiences and problems.” This credo drove much of his success and innovation during his long career.

Lebda leaves behind his wife, Megan, and the three daughters they have – Rachel, Abby, and Sophia. In an emotional interview with The Associated Press, Megan referred to her deceased husband as “an amazing man with a heart so big it seemed to have room for everyone he met.”

Our hearts are shattered, but we are also incredibly thankful for all of the love and love that has flooded in from all over the globe,” she added. “Doug’s legacy will live on through LendingTree and in the many, many lives that he touched.

Lebda’s legacy in the fintech space is clear – a visionary who took personal ire and transformed it into a revolutionary business model. As new leadership continues forward with LendingTree, the company and its staff are committed to paying homage to his legacy by carrying on his work of nearly three decades ago.