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.”
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