Battery Ventures and The Loan Page join forcesMortgagePress.comThe Loan Page,Battery Ventures,acquisition
The Loan Page has been acquired by Battery Ventures, a venture
capital firm focused on investing in growing technology companies.
Battery invested approximately $10 million to purchase the company
and invest in its working capital.
As part of the acquisition, Stein Kretsinger, formerly a
founding executive of Advertising.com, has been named CEO of the
company, and Mark Sherman, general partner of Battery Ventures, has
joined the company's board of directors as chairman. In addition,
the company has relocated its headquarters to San Francisco from
Baltimore.
"We look forward to leveraging the resources that Battery brings
to the table with this partnership to build a dominant company in
this industry," said Kretsinger.
"The Loan Page is well positioned at the center of a number of
key trends in the online mortgage industrythe 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 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."
The Loan Page, based in San Francisco, is an Internet mortgage
lead generation firm. With offices in Wellesley, Mass. and San
Mateo, Calif., Battery Ventures is a venture capital firm.
For more information, visit www.theloanpage.com or www.battery.com.
