Startups

WeddingWire gets new majority owner, $350M investment

The Chevy Chase–based company is now owned by private equity firm Permira, which is touting international expansion and sees room to grow.

WeddingWire provides connections to plan the big party. (Photo by Flickr user Camelot Party Rentals, used under a Creative Commons license)

WeddingWire, a Chevy Chase, Md.–based online marketplace helping engaged couples get connected with wedding service providers, will have a new owner.

Under an agreement announced this week, private equity firm Permira will invest $350 million in the 11-year-old company and become its majority shareholder.

WeddingWire’s platform looks to help in the wedding planning process, providing connections with venues and various vendors like photographers and caterers. The company currently has 950 employees spread across eight offices, and the marketplace is in use in 15 countries. The investment will help the company “as it continues to expand in the U.S. and internationally, launch new innovations and leverage the industry’s ongoing shift to online advertising,” the statement said. Permira Partner Dipan Patel focused in on the company’s international growth. The company launched in India last summer, and rebranded in the UK.

“WeddingWire has become an increasingly important marketplace for both newly-engaged couples and small businesses, with strong positions in its geographies, an attractive subscription-based business model and substantial room to grow,” Patel said in a statement. “More than 40 percent of WeddingWire’s revenue now comes from international geographies — a number that is growing more than 30 percent per year. We are excited to leverage our firm’s international platform in support of Tim and the rest of the WeddingWire team.”

The company’s existing management team and investor Spectrum Equity will maintain what’s described in a statement as “a significant minority ownership in the company.” The transaction is expected to close early in the third quarter of 2018.

Companies: WeddingWire

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

The person charged in the UnitedHealthcare CEO shooting had a ton of tech connections

From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game

Where are the country’s most vibrant tech and startup communities?

The looming TikTok ban doesn’t strike financial fear into the hearts of creators — it’s community they’re worried about

Technically Media