GoodHome.com Announces $30 Million in Financing to Fuel Growth as Premier Online Home Decorating Company

Furniture World News

Building on its position as ma premier online home decorating company, GoodHome.com announced a $30 million round of equity financing that includes a combination of new and existing investors. Participants in the round included: Homestore.com, Inc. (Nasdaq: HOMS), the Internet's largest home and real estate network; Thomas H. Lee Company; The Hearst Corporation; Weston Presidio Capital; MarchFIRST; Rhodes Partners; Slifer Designs; and Home Furnishings Industry Leader Roger Horchow. The financing round will remain open for a brief period as GoodHome.com is in active discussions with additional new investors. "We have carefully assembled the ideal set of backers to ensure we have the strongest media and Internet reach, the best technology, and the most strategic capital in this space," said Doug Mack, CEO of GoodHome.com. Home Decorating Made Easy: GoodHome.com is a premier home decorating destination that offers consumers a whole new way to decorate their homes -- online. GoodHome.com features furniture and accessories specially selected by the company's team of experienced merchandisers and industry experts, combined with unique Window Shopping(SM) and iDecorate(SM) technologies and 24/7 customer service to offer consumers a seamless experience in selecting, visualizing, and purchasing products including furniture, fabrics, wall coverings, accessories, and more. GoodHome.com's management team consists of a highly seasoned group with home furnishings, design, fulfillment, technology, editorial, and financial experience. Home Furnishings Market Experiences Rapid Growth: Gomez Advisors projects the online Home Furnishings market will undergorapid growth, reaching $13.6 Billion in 2004. In a recent Forrester Research report, the online Home Furnishings category was rated as amongst the most attractive on the Internet, and the GoodHome.com business model was specifically cited for its differentiation in its attention to style and its margin potential. About GoodHome.com: GoodHome.com (http://www.goodhome.com) is the premier home decorating Web site, which offers stylish home furnishings and accessories with unprecedented online decorating tools. The company's proprietary Window Shopping(SM) and iDecorate(SM) technologies provides consumers with an entirely new decorating experience in selecting, visualizing, and purchasing products including furniture, fabrics, custom upholstery, accessories, and more. With award-winning customer service, GoodHome.com offers white glove delivery nationwide, one-on-one 24-hour customer service, and home design advice, any day of the week. The GoodHome.com management team consists of a highly seasoned group with home furnishings, design, fulfillment, technology, editorial, and financial experience. GoodHome.com is headquartered in the San Francisco Bay Area, with offices in New York, Southern California, and Michigan. About Homestore.com, Inc.: Homestore.com, Inc. is the leading network of sites on the Internet for home and real estate-related information, products, and services. Homestore.com, Inc.'s family of Web sites include Homestore.com(TM), Realtor.com(R), HomeBuilder.com(TM), SpringStreet.com(TM), Remodel.com(TM) and HomeFair.com(TM) Web sites. Consumers can view over 1.4 million new and existing homes for sale and find broker and agent services on Realtor.com(R), the official Internet site for the National Association of Realtors(R). Consumers searching for new homes can find more than 130,000 models, new homes and built to suit plans on HomeBuilder.com(TM), the official new homes site of the National Association of Home Builders. Consumers interested in renting an apartment will find listing information from more than 45,000 properties in more than 6,000 cities on SpringStreet.com(TM). Homestore.com's(TM) remodeling area covers home improvement needs for both consumers and remodeling professionals. Comprehensive moving and relocation information on the Internet is available from HomeFair.com(TM). Homestore.com(TM) also has content distribution relationships with America Online, Netscape, and Excite@Home. About Hearst Interactive/The Hearst Corporation: Hearst Interactive is a unit of The Hearst Corporation (http://www.hearstcorp.com), one of the nation's largest diversified communications companies. Its major interests include newspaper, magazine, book, and business publishing; television and radio stations; cable network programming; newspaper features distribution; television production and distribution; and new media activities. Hearst's New Media & Technology unit manages a wide variety of consumer and business-related Internet sites and has made strategic equity investments in Internet-related companies including E Ink Corporation, Exodus Communications, Medscape, Quokka Sports, StarMedia Network, Talk City, and Women.com Networks. NOTE: GoodHome.com is a trademark of GoodHome, LLC. GoodHome.com, Decorate, and Window Shopping are trademarks or service marks of GoodHome, LLC. Window Shopping technology patent pending.