21 October 2017

USA Interactive to buy LendingTree

06 May 2003  |  1830 views  |  0 USA Interactive to buy LendingTree

Sprawling Internet conglomerate USA Interactive is to buy Web-based home loan network LendingTree for $734 million in stock.

USA Interactive, which also owns Ticketmaster and the Home Shopping Network, claims a base of nearly 40 million monthly Internet users and is forecasting revenues of $6 billion in 2003.

"For several years now we have been saying that the most exciting sector is in both financial services and real estate," says Barry Diller, the former enetertainment mogul and chairman and chief executive of USA Interactive. "We waited appropriately long enough to find the perfect solution — LendingTree."

LendingTree generated more than $111 million in revenue in 2002 by matching borrowers through its network of more than 200 brokers and banks.

The deal is expected to close by late summer.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8677 views comments | 21 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8600 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7694 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7157 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6765 views comments | 14 tweets | 23 linkedin

Featured job

Find your next job