Founder Rouse back in charge at HomePortfolio
By Brian Carroll -- Furniture Today, April 8, 2002
BOSTON — HomePorfolio is returning to its roots with the reintroduction of founder Rolly Rouse as the man in charge of the company's day-to-day operations.
Rouse founded the Internet marketing company in 1996 with Tom Ashbrook, a college friend, and Shawn Becker. Ashbrook, too, is returning to the fold, taking a place on HomePortfolio's board. Becker never left and continues as its chief technology officer.
Rouse replaces Steve Schneider, previously president and chief executive officer. Rouse expects to add those titles in about a month, when he said the company will release specifics about the changes.
The company said Schneider, who held the top posts since August 2001, left to pursue other interests. He did not return voice- mail messages.
"I'm returning to my love (and) my passion," said Rouse, who also is one of the company's principal investors. "I can't stay away from it, so I'm taking a larger personal investment in the company."
Rouse pledges to focus the company on its founding vision, which is to help home furnishings manufacturers, retailers, design professionals and consumers communicate more efficiently and to help consumers "get the homes they want," he said.
Rouse and a small group of investors, whom he did not identify, are funding the company. Gone are E.W. Scripps Co., CondeNet, Meredith Corp., Excite@Home and a handful of venture capital companies that previously funded HomePortfolio, pumping in more than $70 million since the company's inception.
Meanwhile, HomePortfolio and Homeclick, a New Jersey-based online shopping resource for luxury bath and kitchen products, have called off merger talks. Schneider had met with Homeclick in January about a possible merger.
"The last two years have been challenging for companies of many stripes, certainly for Internet companies," Rouse said. "But one of the advantages is that it has helped companies like HomePortfolio focus on what is successful. The company has survived the hurricane that has blown through, and it has a very bright future."
Boston-based HomePortfolio aggregates for 350,000 registered online shoppers a community of 80,000 retailers and 1,800 manufacturers, including roughly 600 furniture producers.
After founding the company with Becker and Ashbrook, a former Boston Globe reporter and now host of a nightly public radio news show, Rouse served as its CEO until November 1999. He and Ashbrook served on the board until October 2000, when both severed ties with the company.
Rouse said the Web site will gradually reflect the changes he and his still-developing board have in store. One of the first changes was elimination of the company's rebate program, launched in December.
Gwen Simpkins, the site's editor, will be at the April High Point market meeting with manufacturers, but HomePortfolio won't have a formal presence at market.
