CHARLOTTE, N.C., Dec. 10, 2015 /PRNewswire/ -- LendingTree®,
the nation's leading online loan marketplace, continues to scale
its credit card vertical with the addition of American
Express. LendingTree's credit card marketplace now
encompasses all five major credit card companies and the leading
cards in each category.
Additionally, the company expects revenue from its credit card
business to more than double quarter over quarter in Q4 from its
previously reported third quarter revenue of $2.7 million. LendingTree CFO Gabe Dalporto stated, "The growth we're
experiencing in credit cards further illustrates how the
LendingTree brand can successfully expand in to new financial
product categories."
"In addition to adding new lenders and card offerings, our
recent technology enhancements have improved our product
significantly," said Doug Lebda,
founder and CEO of LendingTree. "As we continue to leverage
the LendingTree brand in our marketing, we expect credit cards to
be a significant contributor to our ongoing growth. Having a
comprehensive credit card selection not only improves our
monetization, but more importantly, enhances the experience for the
growing MyLendingTree user base. We expect solid growth in both
Mortgage and Non-Mortgage businesses as we continue to identify new
opportunities to leverage the LendingTree brand in other financial
service categories."
LendingTree provides information and card offers for the top
personal, student and business credit cards from the major card
issuers. For more information, please visit
www.lendingtree.com/credit-cards.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
The matters contained in the discussion above may be considered
to be "forward-looking statements" within the meaning of the
Securities Act of 1933, as amended, and the Securities Exchange Act
of 1934, as amended by the Private Securities Litigation Reform Act
of 1995, as amended. Those statements include statements regarding
the intent, belief or current expectations or anticipations of the
Company and members of its management team. Factors currently known
to management that could cause actual results to differ materially
from those in forward-looking statements include the following:
adverse conditions in the United
States or global capital markets; adverse conditions in the
primary and secondary mortgage markets and in the economy,
particularly interest rates; willingness of lenders to make
unsecured personal loans and purchase leads for such products from
the Company; seasonality of results; potential liabilities to
secondary market purchasers; changes in the Company's relationships
with network lenders; breaches of network security or the
misappropriation or misuse of personal consumer information;
failure to provide competitive service; failure to maintain brand
recognition; ability to attract and retain customers in a
cost-effective manner; ability to develop new products and services
and enhance existing ones; competition; allegations of failure to
comply with existing or changing laws, rules or regulations, or to
obtain and maintain required licenses; failure of network lenders
or other affiliated parties to comply with regulatory requirements;
failure to maintain the integrity of systems and infrastructure;
liabilities as a result of privacy regulations; failure to
adequately protect intellectual property rights or allegations of
infringement of intellectual property rights; and changes in
management. These and additional factors to be considered are
set forth under "Risk Factors" in the Company's Annual Report on
Form 10-K for the period ended December 31,
2014, Quarterly Reports on Form 10-Q for the periods ended
June 30, 2015 and September 30, 2015, the prospectus supplement
related to the offering and other filings with the Securities and
Exchange Commission. The Company undertakes no obligation to update
or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results or expectations.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online loan
marketplace, empowering consumers as they comparison-shop across a
full suite of loan and credit-based offerings. LendingTree
provides an online marketplace which connects consumers with
multiple lenders that compete for their business, as well as an
array of online tools and information to help consumers find the
best loan. Since inception, LendingTree has facilitated more than
55 million loan requests. LendingTree provides free monthly credit
scores through My LendingTree and access to its network of over 350
lenders offering home loans, personal loans, credit cards, student
loans, personal loans, business loans, home equity loans/lines of
credit, auto loans and more. LendingTree, LLC is a subsidiary of
LendingTree, Inc. For more information go
to www.lendingtree.com, dial 800-555-TREE, like
our Facebook page and/or follow us on
Twitter @LendingTree.
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SOURCE LendingTree