LendingTree buys Domania
March 4, 2004
Acquisition of lender products, contracts now a done deal
LendingTree, an online lending and realty services exchange, has acquired certain assets of Domania from Primedia, in a deal Inman News reported in December. Domania provides customer acquisition, retention and marketing services to real estate, banking and mortgage companies.
The Domania.com Web site, which features Domania's HomePriceCheck function, Domania's business-to-business Portfolio Protect product and current lender contracts for Portfolio Protect are among the Domania assets that LendingTree acquired.
Terms of the deal were not disclosed.
"Domania's unique approach to predictive marketing, which focuses on turning prospects into customers, and turning customers into repeat business, will be a huge asset to LendingTree," said Eric Cunliffe, SVP of LendingTree Realty Services.
Domania was founded in 1989. The company provides retention marketing and customer acquisition products and services for lenders, including CitiMortgage, Chase, CharterOne, and Waterfield, and lead generation services for online real estate companies.
LendingTree was founded in 1996 and is an operating unit of IAC/InterActiveCorp. The LendingTree exchange of more than 200 banks, lenders, and loan brokers has facilitated nearly $75 billion in closed loans since its inception, according to the company.
LendingTree Realty Services connects home buyers and sellers to a nationwide network of approximately 10,000 Realtors.
IAC/InterActiveCorp also owns Expedia, Hotels.com, Hotwire, Interval International, HSN, Ticketmaster, Match.com, Precision Response Corp., Citysearch, Evite and Entertainment Publications.
Copyright: Inman News Features