Wedding Wire Loses Martha Stewart, Gains Investors
An interesting discovery this afternoon that I wanted to share with my readers-
BETHESDA, Md., Dec. 16, 2011 /PRNewswire/ — WeddingWire, the nation’s leading wedding and event technology company, today announced that growth private equity firm Catalyst Investors has acquired the stake of WeddingWire’s largest non-founder shareholder, Martha Stewart Living Omnimedia, Inc. (MSLO). Ryan McNally and Brian Rich will join WeddingWire’s Board of Directors.
“WeddingWire is a very attractive investment opportunity. The Company has grown rapidly and will continue to do so. WeddingWire has an exceptionally strong management team with a terrific vision,” said McNally. “Its business model provides proven value to its customer base in the wedding market – a more than $70 billion industry – and their core technologies are transportable to other verticals.”
WeddingWire is a marketplace that simplifies the wedding and event planning process by connecting engaged couples and event planners with local and national wedding- and event-related businesses. The company provides online marketing tools for local and national vendors, and user reviews and wedding planning tools for couples. WeddingWire recently acquired ProjectWedding.com from eHarmony and partnered with Conde Nast’s Brides.com. In addition, WeddingWire signed a multi-year agreement with MSLO to continue powering local listings on MarthaStewartWeddings.com and to begin powering listings on MarthaStewart.com.
“The Catalyst team has a track record of helping technology companies expand and succeed and WeddingWire will benefit from their experience. We are pleased to work together and have Ryan and Brian join our board,” said Timothy Chi, CEO, WeddingWire. “Catalyst will be an active financial partner and we look forward to their guidance.”
About WeddingWire, Inc.
WeddingWire™, the nation’s leading technology company serving the $70 billion wedding industry, is the only online wedding planning resource designed to empower both engaged couples and wedding professionals. For engaged couples, WeddingWire offers the ability to search, compare and book over 100,000 reviewed wedding vendors, from wedding venues to wedding photographers. WeddingWire also offers a comprehensive suite of online planning tools for weddings, including wedding websites and wedding checklists, all at no charge. For wedding professionals, WeddingWire is the only all-in-one marketing platform for businesses online and on-the-go. WeddingWire offers one simple solution to build a professional network, improve search visibility, manage social media and reach mobile consumers across the WeddingWire Network.
About Catalyst Investors
Catalyst Investors is a growth private equity firm founded in 2000. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue and margin growth. The firm works in true partnership with talented management teams to build long-term value and is committed to investor transparency. Past and present Catalyst portfolio companies include Advantage Business Media, Aloha Partners, Aspire Media, Catalyst Repository Systems, Denali Spectrum, InSite Wireless Group, Latisys, MessageLabs, MediaMath, MINDBODY, Nine Systems, TCP Communications and Telemundo. For more information, visit http://www.catalystinvestors.com/.
SOURCE WeddingWire, Inc.
Meghan Ely is the owner of wedding marketing and wedding pr firm OFD Consulting. She is the exclusive wedding pr columnist to wedding marketing journal WedLock magazine and is a highly sought after speaker in the wedding industry. She loves ruffle table runners and Royal Wedding Tchotchkes. To learn how OFD Consulting can assist you with your wedding marketing and wedding pr, please contact us today.