This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

TheStreet Hires Elisabeth DeMarse as CEO (Update1)

Updated from 4:09 p.m. ET to include additional information about the background of Elisabeth DeMarse, the company's fourth-quarter results and the conference call.

NEW YORK ( TheStreet) -- TheStreet (TST), the digital media group that publishes this Web site, named Elisabeth DeMarse as chief executive officer and president, effective immediately.

DeMarse, who will also join the company's board, succeeds Daryl Otte, who served as CEO since 2009. On Dec. 21, Otte announced plans to step down by the end of March. DeMarse previously served as CEO of Bankrate (RATE) and CreditCards.com along with executive roles at Bloomberg LP and Hoover's.

Elisabeth DeMarse

"We are thrilled to announce that Elisabeth will be leading the Company in the next phase of its growth," Woody Marshall, chairman of TheStreet, said in a press release. "Elisabeth is an ideal fit for this key role at the Company -- a highly experienced and tremendously skilled digital media executive with a deep background in the financial information vertical."

DeMarse praised TheStreet's "fantastic collection of assets," saying in a statement that the company "is a pioneer in the field with a strong and recognized brand and has a unique position as a nimble, independent, purely digital player in a high-value media vertical. Moreover, the company immensely benefits from the many contributions of its founder and director, Jim Cramer, a true market savant who is certainly the most recognized personality in financial media."

Most recently, DeMarse served as CEO of Newser, an online news aggregator. A graduate of Harvard Business School, DeMarse was the CEO of Bankrate from April 2000-June 2004 and led the company through a turnaround that included a name change from ilife.com in September 2000. She has also been an entrepreneur-in-residence with Austin Ventures since August 2010, and serves on the boards of Insweb, ZipRealty (ZIPR) and All Star Directories.

Other work experience includes a decade-long stint from 1989-1999 at Bloomberg LP, where DeMarse eventually served as chief marketing officer, and an executive position at Hoover's prior to joining ilife.com in April 2000.

Separately, TheStreet also reported its fourth-quarter results after the close on Wednesday, posting a loss of $2.4 million, or 8 cents a share, for the three months ended Dec. 31, wider than a year-ago equivalent loss of $1.7 million, or 6 cents a share.

The company said, however, that average unique monthly visitors to its network of sites jumped 25% from last year, according to internal measurements. Revenue fell 3% year-over-year in the quarter to $14.3 million but was up 2% for the full year to $57.8 million. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) came in at $2 million for 2011, up $800,000.

Asked about how business is going in the current first quarter on the company's conference call after the bell, Thomas Etergino, TheStreet's chief financial officer, declined to give specific forward guidance.

Etergino did note, however, that while the first half of the quarter was "challenging" as retail investors remained skittish, the company has seen "something of a rebound" in March.

TheStreet shares closed Wednesday's regular trading session at $1.80. Year-to-date, the stock is up 7%.

-- Written by Michael Baron in New York



>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
TST $1.79 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs