WeddingWire finally popped the question: The wedding marketplace got on one knee to ask for XO Group’s hand in merger with a $933m ring.
Now, competing suitors must speak before Nov. 8 or forever hold their peace. After that, XO will be off the market — and the $72B wedding industry will have a new power couple.
Meant for each other
Operating as a public company for the past 19 years, XO has expanded its lineup beyond the “big day” to include brands for parents-to-be and events, seemingly happy on its own.
When WeddingWire first ran across The Knot’s high-value content, it recognized their natural compatibility (they just have so much in common!) and knew immediately that XO Group, The Knot’s parent company, was the one.
Better together
WeddingWire has produced wedding planning tools since 2007, offering services to find venues, photographers, and DJs. Now it hopes to use The Knot’s signature brand to create a one-stop matrimonial mecca.
Like any healthy couple, the two companies plan to maintain their independence as equal partners. The Wall Street Journal reports that both brands will continue to offer their separate products, with CEO Tim Chi of WeddingWare and CEO Mike Steib of XO serving as co-CEOs.
Weddings are big business…
But like any big business, the industry is crowded: Competitor Zola has raised more than $140m and claims to be the fastest-growing wedding company in the country.
For now, the deal’s announcement led to a 26% jump in XO shares, which are now up 50% on the year. Once the deal is complete, the combined company will have 1.7k employees across 15 countries.
