LendingTree Completes Acquisition of GetSmart
16 Diciembre 2003 - 7:35AM
PR Newswire (US)
LendingTree Completes Acquisition of GetSmart LendingTree and
GetSmart exchanges will enable lenders to enjoy the benefit of
broader bases of consumer volume CHARLOTTE, N.C., Dec. 16
/PRNewswire-FirstCall/ -- LendingTree, Inc., the leading online
lending and real estate exchange, today announced that the Company
has successfully acquired certain assets of GetSmart from Providian
Financial Corporation . Under this agreement, LendingTree has
acquired the GetSmart brand and expects to continue to maintain the
relationships with the more than 100 lenders who participate on the
GetSmart network. In addition, LendingTree will also offer the
GetSmart platform to the more than 200 lenders who participate on
the LendingTree exchange. The two brands will complement each
other, as they offer distinct value propositions to both lenders
and consumers who are interested in leveraging the Internet for
online loan options and alternatives. About LendingTree, Inc.
Founded in 1996, LendingTree, an operating business of
IAC/InterActiveCorp (NASDAQ:IACI), is the leading online lending
Exchange that connects consumers, Lenders, REALTORS(R), and related
service providers. The LendingTree Exchange is made up of more than
200 banks, lenders, and brokers (Lenders) and has facilitated
nearly $68 billion in closed loans since inception. More than 10
million consumers have accessed the LendingTree Exchange through
the Company's site at http://www.lendingtree.com/ and through
online and offline partners. Loans available via the LendingTree
Exchange include home mortgage, home equity, automobile, personal,
debt consolidation, and credit cards. LendingTree is the No. 1
brand in the online lending market for consumers, with 73 percent
national awareness. The LendingTree Lend-X technology has been
cited as 'the platform of choice'(a) for online lending and has
been adopted by industry leaders to power their online lending
initiatives. The LendingTree Realty Services offering connects
consumers to a nationwide network of approximately 9,000
REALTORS(R). LendingTree's services and products are specifically
designed to empower consumers, Lenders, and related service
providers throughout the lending process, delivering convenience,
choice, and excellent value. About IAC/InterActiveCorp
IAC/InterActiveCorp (NASDAQ:IACI), formerly USA Interactive, is
comprised of the following operating businesses: Expedia, Inc.,
which oversees Interval International and TV Travel Shop;
Hotels.com; HSN; Ticketmaster, which oversees Evite and
ReserveAmerica; Match.com, which oversees uDate.com; Entertainment
Publications; Citysearch; Precision Response Corporation; and
LendingTree. The goal of IAC is to be the world's largest and most
profitable interactive commerce company by pursuing a multi-brand
strategy. (a) Resuscitating Mortgage Lending. Forrester Research,
March 2001 REALTOR(R) -- A registered collective membership mark
that identifies a real estate professional who is a member of the
National Association of REALTORS(R) and subscribes to its strict
Code of Ethics. This press release contains forward-looking
statements within the meaning of the "Safe Harbor" provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements regarding: projected
future revenues; optimism about the results of certain strategic
and consumer initiatives; product and technological
implementations; and projected expenditures and growth. These
statements are based on management's current expectations or
beliefs and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those set
forth in the forward looking statements. The Company's actual
results might differ materially from those stated or implied by
such forward-looking statements due to risks and uncertainties
associated with the Company's business, which include, but are not
limited to: variations in consumer demand or acceptance; the
willingness of lending institutions to offer their products over
the Internet; further changes in the Company's relationships with
existing banks, lender, and brokers (Lenders), companies, and/or
strategic partners; the Company's ability to attract and integrate
new lending companies and strategic partners; implementation of
competing Internet strategies by existing and potential lending
participants; implementation and acceptance of new product or
service offerings, consumer lending industry regulation;
competition in all aspects of the Company's business; fluctuations
in operating results; or other unforeseen factors. The
forward-looking statements should be considered in the context of
these and other risk factors disclosed in the Company's filings
with the Securities and Exchange Commission. Contact: Mindy
Neubauer LendingTree (704) 944-8541 DATASOURCE: LendingTree, Inc.
Contact: Mindy Neubauer of LendingTree, +1-704-944-8541, or Web
site: http://www.lendingtree.com/
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