LendingTree founder and CEO Doug Lebda died on Sunday in what the company calls an “all-terrain vehicle” accident. He was 55.
According to The Wall Street Journal, the accident happened at his family’s farm in North Carolina. No further information about the accident was available.
“Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world,” his wife, Megan, said in a statement. “Doug’s legacy will continue in the company he founded, the lives he touched, and the example he set for all of us to lead with kindness, courage, and compassion.”
Lebda, a father of three, founded LendingTree in 1996 with the goal of streamlining the loan shopping process after experiencing frustration with his own efforts to secure his first mortgage.
The online platform was launched nationally in 1998 and became a public company in 2000. It was later acquired by the internet conglomerate IAC/InterActiveCorp, before spinning off on its own again in 2008.
“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.”
Scott Peyree, LendingTree’s chief operating officer and president, was appointed CEO effective immediately, the company announced.
The Associated Press contributed to this report.
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