Martha Stewart Living Omnimedia Enters Transactions With WeddingWire
MSLO Expands its Weddings Franchise by Taking 40 Percent Stake, Signing Commercial Agreement with Online Wedding Planning Company
NEW YORK, Feb. 19 /PRNewswire-FirstCall/ -- Martha Stewart Living Omnimedia, Inc. NYSE: MSO today announced a series of transactions with WeddingWire (www.weddingwire.com), a localized wedding platform that combines an online marketplace with planning tools and a social community. The deal is part of MSLO's strategy to accelerate its digital footprint and expand its Weddings franchise online and in print. It includes the acquisition of approximately 40 percent of the equity in WeddingWire and a commercial agreement related to software and content licensing and media sales.
WeddingWire was created by a team of entrepreneurs, including two founding members of Blackboard Inc., to provide engaged couples with comprehensive vendor search and easy-to-use online planning and community tools. The platform's SmartMatch(TM) technology allows brides and grooms to find, research, and receive quick price quotes from vendors in their area, saving couples time, energy and money. WeddingWire offers a range of additional applications, including tools for creating a wedding website, managing budgets, guest lists, and seating charts. It also features social networking and user-generated content tools to help couples make better, more informed decisions.
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