LendingTree CEO and founder Doug Lebda died in an accident over the weekend, the company announced on Monday.

Lebda died unexpectedly following an all-terrain vehicle accident on Sunday.

What they're saying:

"Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers," LendingTree’s board of directors said in a statement. "His passion will continue to inspire us as we move forward together."

What's next:

Scott Peyree, LendingTree’s chief operating officer and president, has been appointed CEO effective immediately.

The backstory:

Lebda founded LendingTree in 1996.

The platform launched nationally in 1998 and has gone on to become a central online loaning marketplace that helps

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