Elisabeth DeMarse

Elisabeth DeMarse is a businesswoman. She is a former Chairman, Chief Executive Officer and President of TheStreet, Inc, aka TheStreet.com.

Early life and education

DeMarse grew up in Charlotte, North Carolina, graduated from Charlotte Country Day School, received her A.B. from Wellesley College and her MBA from Harvard Business School. Her father, Samuel Cummings Hair, ran Interstate Advertising, the largest outdoor and airport display company in North Carolina. Her mother, Liz Hair, was Chairman of the Board of Commissioners for Mecklenburg County. At age 15, she founded an alternative newspaper, The Naked Truth, and was editor of The Country Day Monitor. At Wellesley, she was a Wellesley Scholar, a Wellesley Washington Intern, Chief Justice, and a columnist for the Wellesley News.

Career

DeMarse began her career in politics, serving on the Senate Committee on Presidential Campaign Activities (aka The Watergate Committee) and then as an aide to Congressman Edward I. Koch, following him to New York’s City Hall when Koch became Mayor. Koch named DeMarse to a four-year term on the New York Commission on the Status of Women in 1985.

Bloomberg, L.P.

After graduating from Harvard Business School, DeMarse became assistant to Robert Flanagan, CEO of Western Union. In 1988, she joined Michael Bloomberg's new company as head of marketing. While at Bloomberg, DeMarse launched 8 businesses, including Bloomberg.com. She launched the Bloomberg series of cartoon books with The New Yorker magazine.[1]

Bankrate, Inc.

While at Bloomberg, DeMarse created and ran Bloomberg Personal Finance, then termed “Personal Wealth.” In 2000, she was recruited by former Forbes publisher Jeff Cunningham to run iLife. At that time, iLife was in financial trouble and ranked #7 on the March 2000 Barron’s “Burn Rate” list.[2][3] Two quarters later, ad revenues had increased and the company's cashflow returned to break-even levels.[4][5] The stock price rose from $0.18 to $26 per share.[6][7] She re-branded the company as Bankrate.com. In 2000 Bankrate's unique visitors grew from 700,000 to 5 million. In 2004, four years after becoming CEO of the near bankrupt company, Bankrate reported $14 million in net income. November 1, 2001 DeMarse testified before Congress on the impact of 9/11 on credit card billing of the consumer. 9/11 disrupted mail flow across the eastern United States, and millions of consumers were affected by unfair late fees. DeMarse testified regarding the unfairness of consumer late fees brought about by the events of 9/11 before the SubCommittee on Financial Institutions and Consumer Credit.[8] Subsequently, some issuers, notably Capital One, cancelled their late fees.

President and CEO, DeMarseCo

In 2005, she founded DeMarseCo in partnership with venture capitalist, Austin Ventures. DeMarseCo acquired multiple tech companies including: ClickSuccess, Freedom Marketing and All Star Directories.[9]

President and CEO, CreditCards.com

DeMarse became president and CEO of CreditCards.com. Under DeMarse's leadership, the company was twice named to the Inc. 500,[10] and as a recipient of the Association for Corporate Growth award.[11] She received the Working Mother of the Year award in 2008.[12] CreditCards.com was acquired Bankrate in 2010.

CEO, Newser.com

On October 17, 2010, after the sale of Creditcards.com to Bankrate, it was announced that DeMarse would undertake the role as CEO of Newser, an internet news publisher listed at the #25 most influential internet publication by OMMA. On February 28, 2011, Andrew Ross Sorkin disclosed that Newser’s pending acquisition of Salon.com had failed.[13][14]

Chairman, President and CEO, TheStreet, Inc.

On March 7, 2012 TheStreet.com announced that DeMarse was hired as CEO and president, replacing outgoing CEO Daryl Otte, effective immediately.[15] She was named Chairman April 16, 2012. On September 12, 2012, TheStreet acquired The Deal, LLC. On April 22, 2013, TheStreet acquired DealFlow Media. On August 15, 2013, Herb Greenberg,a CNBC journalist, announced he was joining TheStreet as a writer and to develop new products. The New York Observer reported on TheStreet's turnaround strategy on August 6.

Philanthropies

DeMarse has been active in numerous philanthropic and non-profit endeavors. DeMarse contributed to The Bill T. Jones/Arnie Zane Dance Company for twenty years, serving as secretary, treasurer and ultimately President of the Board.

Public company boards

DeMarse has been a board member of Edgar Online, YP Corporation, InsWeb Corporation, Heska Corporation, Internet Patents Corporation, Incredimail.com, and Stockgroup. She is currently a board member of ZipRealty.[16]

Notes

  1. ↑ Quain, John. "Fast Company", August 31, 1997.
  2. ↑ Willoughby, Jack. "Burning Up". , March 20, 2000.
  3. ↑ Leitzes, Adam. "Entrepreneurial Roadtrip". "Forbes",November 8, 2000, accessed June 23, 2011.
  4. ↑ The Wall Street Transcript. "Interview with Elisabeth DeMarse, CEO, Ilife.com." , July 24, 2000,accessed June 23, 2011.
  5. ↑ Holland, Anne."How Bankrate Kept Online Ad Revenues Steady Despite the Economy"., "Marketing Sherpa",January 18, 2002, accessed June 23, 2011.
  6. ↑ Marcial, Gene. , BusinessWeek, July 21, 2003, accessed June 23, 2011.
  7. ↑ Jacobs, Tom. "Management Rules.", Motley Fool,November 18, 2003.
  8. ↑ Testimony of Elisabeth DeMarse, President and CEO, Bankrate, Inc. before The Subcommittee on Financial Institutions and Consumer Credit, Spencer Baucus, Alabama, Chairman , November 1, 2001.
  9. ↑ Graubart, Barry , Alacrawiki.
  10. ↑ Inc. Magazine"Inc. 500 Fastest Growing Private Companies in America." June 20, 2007
  11. ↑ ACG, CreditCards.com Recognized for Outstanding Corporate Growth, , June 20, 2007
  12. ↑ Brady,Diane.,"Businessweek",February 6, 2008.
  13. ↑ Sorkin, Andrew Ross "The New York Times", February 28, 2011, accessed June 23, 2011.
  14. ↑ Adams, Russell.,"Wall Street Journal", June 23, 2011 accessed June 23, 2011.
  15. ↑ Baron, Michael.,"TheStreet.com", March 7, 2012 accessed March 8, 2012.
  16. ↑ Forbes "Forbes." Elisabeth DeMarse, Independent Director

References

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