Two of the Charlotte area’s most successful companies are starting to look a whole lot like each other.
Just five miles apart, LendingTree and Red Ventures are in an arms race to become companies that drive sales across the internet. Both are buying up smaller comparison sites and online marketplaces to solidify their positions.
And as they grow, both are recruiting tech workers to new headquarters buildings. Red Ventures just expanded its Indian Land campus, and LendingTree is set to move to SouthPark later this year.
LendingTree made a name for itself as an online tool letting future homebuyers easily shop different banks’ mortgage options. The company went public in the year 2000, and today has a market cap of nearly $4 billion.
Beyond home loans, LendingTree also lets site visitors compare credit cards, business loans, car loans and other financial products. They get paid by lenders who want access to the sales leads.
The company expects to bring in nearly $800 million in revenue this year.
From a LendingTree investor presentation.
Though born in the same era, Red Ventures has taken a different route.
Image credit charlotteagenda.com