Blending what they believe to be the right mix of Internet technology, financial resources and traditional design sense, GoodHome.com and nHabit.com announced a merger Thursday. Under the terms of the agreement, nHabit.com will be folded into the GoodHome.com name.
GoodHome.com will now become one of the largest Internet home furnishings companies, with more than $65 million (US$) in investor backing.
The newly-consolidated company will launch later this month. GoodHome had already announced plans to launch in September after it inked anchor tenant and sponsorship deals with AOL and Women.com earlier this week.
GoodHome brings some $50 million in investor backing, home furnishings, accessories and experienced management to the merger. nHabit, founded last year by Roger Horchow of Horchow Collection fame, brings its Internet concept of selling home furnishings handpicked in room settings by a leading interior design firm.
“The merger of the two companies integrates GoodHome.com’s financial resources, industry talent, core technologies and Internet distribution agreements with nHabit.com’s design and merchandising expertise, fulfillment strength and customer service,” said GoodHome CEO Doug Mack.
And The Drum Roll Please
For a company that hasn’t sold anything yet – except its concept — GoodHome has orchestrated a crescendo of publicity prior to its launch. The San Rafael, California-based company has attracted the backing of leading venture capital firms and Hearst New Media & Technology, the online arm of the media conglomerate.
GoodHome has obviously done its homework. The company is unveiling new technology that will allow consumers to decorate a home online. From selecting furniture fabrics to choosing wallpaper to match, the company’s trademark iDecorate technology is geared toward a complete online home decorating and furnishing experience.
The addition of nHabit to the mix gives the new company a formidable blend, one that will offer a challenge to brick-and-mortar home furnishings retailers who have come out online and e-commerce companies like Furniture.com and living.com
The Austin, Texas-based living.com announced Wednesday that it signed a marketing agreement with Lycos that will feature its home furnishings products across the Lycos network, including its Web shopping guide.
Living.com has been no slouch in obtaining venture capital in an effort to corral the $200 billion home products market. Founded in 1998, the company has obtained $41.5 million in funding from a number of venture capital firms.