RealTime IT News

GoodHome.com Wins $50M in First-Round Financing

GoodHome.com, a planned decorative home furnishings site, received $50 million in capital -- before launch -- from Hearst New Media & Technology, The Learning Co. division of Mattel Inc., Thomas H. Lee Co. and Weston Presidio Capital.

The company will launch the site in the third quarter.

Competition will include furniture.com and others, all with a head-start. GoodHome.com will bring together "a powerful combination of product selection, editorial and technology to help consumers furnish and decorate their homes," said Al Sikes, president of Hearst New Media & Technology.

GoodHome.com is headed by CEO Douglas Mack, most recently executive vice president of the Broderbund Software unit of The Learning Co. President Marilyn Bellock has more than 12 years of experience in the home furnishings industry. Most recently, she was CEO of Baranzelli Home, a New York City-based direct sales and retail home furnishings company.

"GoodHome.com has the financial assets, technical resources, and corporate backing to burst from the starting gate this fall and immediately become the first known brand in this category," said Scott Sperling, managing director of the Thomas H. Lee Co.

"This is part of a broader strategy by which we intend to unlock the assets of The Learning Company, and become a major online participant. GoodHome.com represents the ideal opportunity for us to showcase the technology and content behind our home design software products," said Kevin O'Leary, president of The Learning Co.