Another interesting health content announcement today with Waterfront Media, parent of Everyday Health, appointing cable and online vet Doug McCormick as chairman of the board. He succeeds Bo Peabody, Tripod co-founder and co-founder/managing general partner of Village Ventures, and chairman of Waterfront since 2003. McCormick, a member of Waterfront's board, has been a venture partner with Rho Ventures, one of the company's investors, since he led the $600 million sale of iVillage to NBC Universal (NYSE: GE) in 2006. Before he was chairman and CEO of iVillage, McCormick was president and CEO of Lifetime Television Networks.
Waterfront was formed by the merger of Agora Media and Streetmail, co-founded by Peabody. The company raised $25 million in last September in a fourth round led by Scale Venture Partners and including return investors Tine Warner Venture and Rho. Previously, the company raised at least $10 million plus $8 million in debt financing. Co-founder and CEO Benjamin Wolin was on our EconHealth deals pnale (Video here). The Everyday Health network claims 14-plus million million uniques a month. Revolution Health, founded by Steve Case, went from zero to 60 in less than a year and poses a considerable challenge, as do the portals with their revamped health sites.
By Staci D. Kramer