Doug Lebda, the founder and CEO of LendingTree, tragically passed away over the weekend in an all-terrain vehicle accident at a family farm in North Carolina. He was 55. The online lending platform announced his death on Monday and expressed deep grief over the unexpected loss.
In a statement released by the company, LendingTree characterized Lebda as a “visionary leader” whose innovative spirit and passion significantly impacted the financial services industry, enhancing the experiences of countless consumers. “His passion will continue to inspire us as we move forward together,” emphasized LendingTree’s board of directors.
In the wake of Lebda’s passing, Scott Peyree, the chief operating officer and president, has officially taken over as CEO. Additionally, Steve Ozonian, the lead independent director, has stepped into the role of chairman of the board.
Reacting to the news, shares of LendingTree, which is based in Charlotte, North Carolina, experienced a decline of more than 4% during afternoon trading on Monday.
Lebda established LendingTree in 1996, driven by the need to streamline the loan shopping process after facing frustrations himself while obtaining his first mortgage. The platform gained national traction after its launch in 1998 and became a publicly traded company in 2000. It was subsequently acquired by IAC/InterActiveCorp before becoming independent again in 2008.
Today, LendingTree operates as a comprehensive online marketplace, helping users find and compare loans for mortgages, credit cards, insurance, and more. The company also owns several financial service brands, including CompareCards and Value Penguin.
Beyond his role at LendingTree, Lebda co-founded Tykoon in 2010, a financial services platform aimed at children and families. His career began with PriceWaterhouseCoopers as an auditor and consultant, where he developed a problem-solving mindset that would later fuel his entrepreneurial ventures. “All of my ideas come from my own experiences and problems,” he shared in a 2012 interview with The Wall Street Journal.
Lebda is survived by his wife, Megan, and their three daughters—Rachel, Abby, and Sophia. In a heartfelt statement to the press, Megan described her husband as “an amazing man with a heart so big it seemed to have room for everyone he met.” She expressed the family’s profound sorrow while also sharing gratitude for the outpouring of love and support received from around the world, affirming that his legacy would endure both at LendingTree and in the lives he touched.
