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RecycleBank appoints board member

RecycleBank, a rewards program that motivates people to recycle, has announced that Doug Lebda, president and chief...


RecycleBank, a rewards program that motivates people to recycle, has announced 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.

For more information, visit www.recyclebank.com


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