Founded
in 1997, The Loan Page is one of the oldest Internet mortgage
lead generation firms in the United States. The Company’s
business model is to obtain information from potential mortgage
loan borrowers, and sell this information as “leads”
to mortgage brokers and lenders. The Company's unique product
offering has been proven effective and beneficial for both the
borrower and the mortgage professional and has enabled it to grow
rapidly and profitably while pursuing its mission of becoming
the most cost-effective marketing solution available in the mortgage
industry. Since inception, The Loan Page has transmitted over
$50 billion in mortgage loan quote requests and has served hundreds
of clients nationwide.
TheLoanPage.com retained WWC Securities, LLC to sell the Company
because of the firm’s experience designing and running effective
auction processes as well as the Firm’s deep understanding
of Internet advertising and lead generation models. The principal
owners of the Company were interested in exploring a sale of the
the business to pursue other professional opportunities.
WWC was successful in generating significant interest in TheLoanPage.com
and ultimately sold the Company to Battery Ventures, a leading
venture capital firm focused on investing in technology companies
at all stages of growth. As part of the acquisition, Stein Kretsinger,
formerly a founding executive of Advertising.com and Entrepreneur-in-Residence
at Battery Ventures, became CEO of the Company and Mark Sherman,
general partner, Battery Ventures joined the Company’s Board
of Directors as Chairman. In addition, the company relocated to
San Francisco, California from Baltimore, Maryland.
"We plan on combining The Loan Page’s current success
and leading market position with Battery’s resources to
drive an even better solution for our borrowers and lending institutions,”
said Stein Kretsinger.
"The Loan Page is well positioned at the center of a number
of key trends in the online mortgage industry -- the shift from
offline to online marketing, the rise of Internet lead intermediaries,
and mortgage banks and brokers seeking to take advantage of these
industry changes," said Mark Sherman. "We are very excited
about our partnership with The Loan Page and look forward to working
with the new management team to take the company to the next level.”
WWC Securities, LLC acted as the exclusive investment banker
and financial advisor to TheLoanPage.com in connection with the
transaction.
