1
Filed Pursuant to Rule 424(b)(3)
Registration Number 333-60686
Prospectus Supplement dated September 13, 2001
To Prospectus dated July 6, 2001 of Lending Tree, Inc.
--------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 13, 2001 (September 10, 2001)
LENDINGTREE, INC.
-----------------
(Exact name of registrant as specified in its charter)
DELAWARE 25-1795344
-------- ----------
(State or other jurisdiction 000-29215 (I.R.S. Employer
of incorporation) Commission File Number Identification Number)
11115 RUSHMORE DRIVE
CHARLOTTE NC 28277
------------- -----
(Address of principal executive offices) (Zip code)
(704) 541-5351
--------------
(Registrant's telephone number, including area code)
--------------------------------------------------------------------------------
Page 1 of 5
2
ITEM 5. OTHER EVENTS
On September 10, 2001 LendingTree, Inc., announced results of a
third-party brand tracking study conducted for LendingTree by
Boston-based Chadwick Martin Bailey, Inc. The study, which was conducted
in June 2001, measured Total Brand Awareness* both nationally and within
major metropolitan areas among adults 18-54 for brands competing within
the online lending market. The results show that the LendingTree brand
enjoys 59 percent Total Brand Awareness among adults nationwide, and
that Total Brand Awareness among frequent Internet users in major
metropolitan markets is 70 percent. These numbers are more than 2.5
times the awareness levels of direct online competitors and exceed the
nation's top retail banks included in the study. See Exhibit 99, herein,
for further details.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired - Not Applicable
(b) Pro forma financial information - Not Applicable
(c) Exhibits
99 Press Release of LendingTree, Inc. September 10, 2001
announcing results of a brand awareness study.
-2-
3
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
LENDINGTREE, INC.
Date: September 13, 2001 By: /s/ Keith B. Hall
------------------ -----------------
Keith B. Hall, Senior Vice President,
Chief Financial Officer and Treasurer
-3-
4
Exhibit 99
LENDINGTREE EXTENDS NO. 1 BRAND AWARENESS POSITION IN ONLINE LENDING
New Brand Awareness Study Confirms LendingTree Leads in Total Brand
Awareness Among Consumers Nationwide
o LendingTree Total Brand Awareness - 59 percent nationally, 70 percent
among frequent Internet users in major metropolitan markets.
o Decrease in Customer Acquisition Costs - 77 percent decline from $93 to
$22 since launch of brand campaign.
o Customer Satisfaction Levels in excess of 80 percent among surveyed
consumers who have closed loans through the LendingTree Exchange.
o Total Brand Awareness numbers are more than 2.5 times the awareness
levels of direct online competitors and exceed the nation's top retail
banks included in the study.
CHARLOTTE, N.C., SEPTEMBER 10, 2001 - LendingTree, Inc., the leading online
lending exchange and technology provider, today announced results of a
third-party brand tracking study conducted for LendingTree by Boston-based
Chadwick Martin Bailey, Inc. The study, which was conducted in June 2001,
measured Total Brand Awareness* both nationally and within major metropolitan
areas among adults 18-54 for brands competing within the online lending market.
The results show that the LendingTree brand enjoys 59 percent Total Brand
Awareness among adults nationwide, and that Total Brand Awareness among frequent
Internet users in major metropolitan markets is 70 percent. These numbers are
more than 2.5 times the awareness levels of direct online competitors and exceed
the nation's top retail banks included in the study.
The brand awareness study focused on online lending and is the second study
conducted for LendingTree by Chadwick Martin Bailey in the last 12 months. The
study reinforces the position of LendingTree as the most recognized brand for
consumers seeking a loan online. In addition to Total Brand Awareness, consumers
supported LendingTree with strong overall satisfaction ratings: more than 80
percent of consumers who closed a loan obtained through the LendingTree Exchange
were very satisfied with the experience.
Said Bob Harris, LendingTree senior vice president of marketing, "The impressive
numbers from this study continue to illustrate the unique consumer value
delivered by LendingTree and that the overall brand proposition continues to
resonate with consumers. It is clear to consumers that at LendingTree they are
in control of the lending process and when banks compete, they win by receiving
multiple loan offers with competitive rates. Additionally, the fact that the
Total Brand Awareness percentage is significantly higher than last year is a
clear indication of the success of our marketing efforts."
Said Tom Reddin, LendingTree president and chief operating officer, "The
business implications of the brand study are of great importance - our superior
brand strength and overall awareness among consumers nationwide increases the
numbers of loan requests we generate for every marketing dollar spent. This
effectively drives down the cost of each customer acquisition, which has
decreased 77 percent from $93 in (Q2 2000) to $22 (Q2 2001), increasing the
positive contribution
-4-
5
margin recognized for each loan request received by LendingTree." Reddin
continued, "As more consumers go online to find convenience, choice, and great
rates when searching for a loan, our brand leadership position in the minds of
consumers will continue to contribute to our overall long-term revenue and
profitability goals."
*includes both aided and unaided awareness
ABOUT LENDINGTREE, INC.
LendingTree (NASDAQ: TREE) is the Internet-based loan marketplace for consumers
and lenders. LendingTree collects consumer credit requests and compares those
requests and related credit information to the underwriting criteria of the more
than 100 participating lenders in the LendingTree marketplace. Qualified
consumers may receive multiple offers in response to a single loan request
within hours and then compare, review, and accept the loan offer that best suits
their needs. Lenders can generate new business that meets their specific
underwriting criteria at reduced acquisition costs. The LendingTree marketplace
encompasses most consumer credit categories, including mortgages, home equity
loans, automobile loans, credit cards, and personal loans. For more information,
or for a full listing of the more than 100 banks and lenders in the LendingTree
marketplace please go to www.lendingtree.com or call 704-541-5351.
ABOUT LEND-X(SM)
Lend-X(sm) is LendingTree's online loan exchange technology that enables
companies to quickly and easily embed a customized private label or co-branded
loan marketplace into their site in a variety of different business models.
Lend-X(sm) technology provides a fast, adaptable and reliable online lending
solution for lenders and non-lenders alike with valuable access to LendingTree's
online lending exchange of more than 100 banks and lenders. In conjunction with
LendingTree's services, Lend-X can be used to provide access to loans for
consumers of lenders and non-lenders alike. Lend-X(sm) clients include: Freddie
Mac, S1 Corporation, priceline.com, America's MoneyLine (AML), EDS's Wendover,
Home Account, MSN Money Central, Wachovia, Fleet Bank, Citizens Bank, and
Affinity Plus Federal Credit Union.
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 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.
-5-