Fighting to turn around TheStreet.com

Matthew Kassel of The New York Observer writes about Elisabeth DeMarse, the CEO brought in to revise TheStreet.com.

Kassell writes, “Ms. DeMarse came to TheStreet at the behest of Woody Marshall of Technology Crossover Ventures, a large shareholder in the company. After a little more than a year on the job, Ms. DeMarse has imbued TheStreet, which went public in the late ’90s but lost its way in the ensuing decade or so, with a fresh sense of direction.

“It wasn’t easy. When Ms. DeMarse stepped in, TheStreet was mired in stagnancy, according to Bill Martin, a former Bankrate board member who bought a 12.5 percent stake in TheStreet upon Ms. DeMarse’s arrival.

“Mr. Cramer, host of CNBC’s Mad Money and Squawk on the Street, told the new CEO that it was going to be ‘a complete mess.’

“Ms. DeMarse was undeterred. ‘My biggest challenge at TheStreet is making sure that our work force is passionate about the markets,’ Ms. DeMarse told The Observer, adding that the site had become a ‘snoozy read.’ ‘We should be like ESPN. You shouldn’t work at TheStreet unless you love stocks, love the markets and know what a PEG ratio is.’

“‘I wanted a really big change,’ she continued, ‘and I wanted to be in a place where I could have a nice big canvas to paint on.’

“She got what she wanted. TheStreet is a diverse company with a relatively deep infrastructure. Along with its established subscription business—featuring the work of writers like Doug Kass and Mr. Cramer—TheStreet has ‘a big front porch,’ as Ms. DeMarse put it.”

Read more here.