Doug Lebda has so much confidence in his new company, he's throwing more than a million of his own dollars behind it.
Lebda is chief executive of Tree.com Inc., an online lending marketplace that is the parent company of LendingTree. Charlotte-based LendingTree had been owned by IAC/Interactive Corp., where Lebda was president, but IAC decided last year to spin it off.
The new company, Tree.com Inc., became a stand-alone company on Aug. 21, housing LendingTree, RealEstate.com, GetSmart.com and other financial services and real estate divisions. Since then, Lebda has spent $1.13 million buying up 144,331 of its shares, much of it through a family trust. He bought the shares over five days, paying between $7.44 and $8.23 per share.
The company has about 16.6 million shares. They closed at $7.70 on Wednesday, down 3 percent.