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.

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