Recycling Rewards Company Taps Business Guru for Expansion and
Growth
PHILADELPHIA--(Business Wire)--
RecycleBank(TM), a rewards program that motivates people to
recycle, announced today that Doug Lebda, president and chief
operating officer of IAC and founder of LendingTree, has been
appointed to RecycleBank's Board of Directors as part of the company's
plan for nationwide expansion.
Lebda joins the RecycleBank board with an extensive knowledge of
building and managing online companies. Currently, in his role at
LendingTree, Lebda oversees leading online financial businesses
including LendingTree.com and RealEstate.com.
Lebda joined IAC in 2003 when the company acquired LendingTree,
which he founded in 1996. He became president and COO of IAC at the
end of 2005. During his tenure at LendingTree, Lebda led the company
through an IPO, five acquisitions and an expansion into the consumer
real estate category with more than $300 million in revenue. This
leadership experience will be invaluable as RecycleBank enters a
growth stage.
RecycleBank motivates households and communities to recycle by
rewarding RecycleBank Reward Points to households for their recycling
efforts.
-- Households receive a cart embedded with an RFID (radio
frequency identification) chip and all recyclables are placed
into the cart for curbside pickup.
-- Recycling trucks retrofitted with RecycleBank technology read
the RFID chip and record the amount the household recycles.
-- The weight and participation is then translated into
RecycleBank Reward Points which households can view and redeem
at www.recyclebank.com.
-- These Points can be used with more than 400 national
RecycleBank Reward Partners such as Coca-Cola, IKEA, Starbucks
Coffee and Kraft Foods, as well as local reward partners such
as restaurants and grocery stores.
"RecycleBank has taken the concept of recycling and created a
market-driven, environmentally conscious idea that benefits all
involved," said Lebda. "As part of the board, I look forward to
helping RecycleBank's leadership team as they expand this fantastic
service into more communities and markets around the country."
Currently, RecycleBank is in more than 35 municipalities
throughout Pennsylvania, Delaware, Massachusetts, Vermont and New
Jersey with plans for nationwide expansion this year. To date,
RecycleBank households have already diverted more than 36 million tons
of recyclables from landfills.
"RecycleBank is serious about its expansion and growth in 2008,"
said Ron Gonen, CEO and co-founder of RecycleBank. "By adding Doug to
our board, we hope to leverage his expertise and experience in scaling
companies to help expand the RecycleBank program."
About RecycleBank
RecycleBank is a rewards program that motivates people to recycle.
It does this by quickly and easily measuring the amount of material
each home recycles and then converting that activity into RecycleBank
Reward Points that can be used at hundreds of local and national
rewards partners. RecycleBank is simple to implement, market-driven
and proven to work, saving municipalities' money and rewarding
citizens for their environmental stewardship. RRE Ventures and Sigma
Partners are the largest institutional shareholder group and Ron
Gonen, the co-founder and CEO is the largest individual shareholder.
Visit www.recyclebank.com for more information.
Press:
Articulate Communications Inc.
Kate Corcoran, 212-255-0080, ext. 18
kcorcoran@articulatepr.com
Copyright Business Wire 2008
