The_Knot_(magazine)

The Knot Worldwide

The Knot Worldwide

Company

The Knot Worldwide, formerly XO Group, The Knot Inc, and WeddingWire, Inc, is a global technology company that provides content, tools, products and services for couples who are planning weddings, organizing a celebration, and navigating pregnancy and parenting. In 2019, The Knot Worldwide was created by a merger between predecessors XO Group Inc. (formerly The Knot Inc.) and WeddingWire, Inc.

Quick Facts Predecessor, Founded ...

The company operates in 16 countries and includes the following brands: The Knot, WeddingWire, Bodas.net, Hitched, The Bump, The Bash, WeddingPro, Matrimonio.com and others. As of August 2023, The Knot Worldwide has a user base of 35 million monthly visitors and its global wedding vendor marketplace connects approximately 4 million engaged couples annually with 850,000 vendors.[1][2]

History

David Liu, his wife Carley Roney and their business partners, Rob Fassino, and Michael Wolfson founded The Knot Inc. in 1996.[3] They found that the internet could facilitate and reduce anxiety in the process of wedding planning between couples.[3] The startup received seed financing from AOL, the partners launched The Knot brand as a portal on AOL.[4] In 1997, TheKnot.com launched on the internet.[5]

The company launched an online gift registry in partnership with QVC and published its first book, The Knot Complete Guide to Weddings in the Real World.[6] In December 1999, the company raised $35 million in an initial public offering.[7]

On December 2, 2000, the company launched its own bridal magazine and went public. The Knot Weddings Magazine is published four times a year and is sold on newsstands.[8]

In 2004, the company launched a television series, Real Weddings from The Knot, on the Oxygen Network.[9]

While The Knot was growing, Tim Chi founded WeddingWire in 2005 to create a technology-based marketplace for weddings. Alongside his co-founders, Chi started the business in his living room in Chevy Chase, MD.[10]

The Nest brand launched in 2005 with a website aimed at newly married or cohabiting couples creating their new home. A magazine followed in 2006.[11]

In 2006, the company acquired WeddingChannel.com which included its registry platform and helped to consolidate the bridal media industry.[12]

In 2008, the company launched TheBump.com to serve expectant and new parents.[13]

WeddingWire raised a $5.5 million Series A investment from Martha Stewart Living Omnimedia in 2008.[14]

In June 2011, the company transferred its common stock listing to the New York Stock Exchange (NYSE) with the symbol "XOXO".[15]

In September 2012, WeddingWire raised an additional $25 million in Series B funding from Spectrum Equity.[16]

Mike Steib joined XO Group as president in July 2013 and assumed the role of CEO in March 2014.[17]

In October 2015, XO Group announced the acquisition of GigMasters, an online marketplace for event vendors, and a partnership with Jetaport, the discounted hotel room block booking service.[18] In the same year, WeddingWire completed the acquisition of Bodas.net, an online directory of Spain-based wedding vendors. Through the merger, WeddingWire expanded to 12 countries.[19]

In September 2018, XO Group announced that it would merge with competing wedding planning firm WeddingWire and become a privately held company under the control of WeddingWire investors Permira Funds and Spectrum Equity.[20] The merger became official in March 2019 and the new parent company was renamed to The Knot Worldwide. [21]

In February 2020, The Knot Worldwide announced it acquired Hitched, a U.K.-based wedding brand.[22] In response to COVID-19, the company launched a $10 million assistance program for wedding vendors in need of support and introduced a campaign called Love is Essential covering the cost of dream marriage proposals for essential workers.[23][24]

In 2020, The Knot Worldwide launched The Knot Registry Store.[25] The company also launched The Knot Invitations and later partnered with Vera Wang, JoJo Fletcher, Jordan Rodgers, and Jenna Dewan to introduce limited-edition collections.[26][27][28]

The Knot Worldwide launched Fellowship for Change in 2021, an annual program to support underserved wedding professionals in their first five years of business through education, mentorship and funding in the form of free advertising.[29]

The Bump and the National Medical Association partnered in 2021 to launch The Black Maternal Health Hub, designed to reduce Black maternal mortality rates.[30]

The Knot rebranded in 2023 and launched its biggest integrated marketing campaign, which aims to reach Gen Z couples and highlight vendors on its marketplace.[31]

In 2023, The Knot Worldwide acquired Zankyou Ventures, a Spanish-based global wedding company, and Weven, a CRM/ERP SaaS wedding planning platform.[32][33]

References

  1. [1]
    Dee-ann Durbin (January 8, 2024). "Insider Q&A: How wedding planners are adjusting for Gen Z nuptials". Quartz.
  2. [2]
    "Global Wedding Business Says 'I Do' to Google Duet AI". UC Today. August 29, 2023.
  3. [3]
    "Carley Roney and David Liu - Photo Essays". TIME. 2007-11-15. Archived from the original on November 17, 2007. Retrieved 2010-03-25.
  4. [4]
    "Corner Office: David Liu and Carley Roney Tie the Knot | SUCCESS Magazine | What Achievers Read". SUCCESS Magazine. Retrieved 2010-03-25.
  5. [5]
    Roney, Carley (2007-11-15). "Something Old, Something New". TIME. Archived from the original on November 18, 2007. Retrieved 2010-03-25.
  6. [6]
    "The Knot: Here Come The Brides". Businessweek.com. 2005-04-11. Archived from the original on January 4, 2010. Retrieved 2010-03-25.
  7. [7]
    Hass, Nancy (1999-12-05). "A NIGHT OUT WITH - Carley Roney - At the .com Wedding". The New York Times. Retrieved 2010-03-25.
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    "The Knot, Inc. Company Profile, Information, Business Description, History, Background Information on The Knot, Inc". www.referenceforbusiness.com. Retrieved 2018-01-26.
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    Tedeschi, Bob (2005-03-14). "Web Sites Try Offering TV Shows". The New York Times.
  10. [10]
    Ali Donaldson (November 27, 2023). "How a Summer of Wedding Hell Launched WeddingWire". Inc.
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    "The Nest - 50 Best Websites 2008". TIME. 2008-06-17. Archived from the original on June 19, 2008. Retrieved 2010-03-25.
  12. [12]
    "The Knot And WeddingChannel: Just Married". Businessweek.com. Archived from the original on April 10, 2010. Retrieved 2010-03-25.
  13. [13]
    "About us". The Bump. Retrieved 2015-01-14.
  14. [14]
    Joseph Weisenthal (March 17, 2008). "10-K Watch: Martha Stewart: $5 Million For WeddingWire Stake; $11.8 Million Online Ad Revs". CBS.
  15. [15]
    "The Knot Inc. Highlights Expanded Footprint with New Corporate Name, XO Group Inc". XO Group Inc. June 28, 2011. Archived from the original on January 30, 2013. Retrieved July 21, 2013.
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    David Benoit (September 25, 2012). "WeddingWire Gets $25 Million Investment From Spectrum Equity". Wall Street Journal.
  17. [17]
    Internet Retailer, Rueter, Thad. E-retailer XO Group hires a president from the U.S. arm of Vente-Privee, "Internet Retailer", 1 July 2013. Retrieved on 12 November 2015
  18. [18]
    Geomarketing.com. Chamberlain, Lauryn. "XO Group Expands Wedding Marketplace, Acquiring GigMasters" "Geomarketing.com" 6 October 2015. Retrieved on 30 November 2015.
  19. [19]
    "WeddingWire Announces Acquisition of Wedding Planner". The Luxonomist. February 27, 2015.
  20. [20]
    Nypost.com. Reuters. "WeddingWire to merge with XO Group in $933M deal" "nypost.com" 25 September 2018. Retrieved on 9 April 2019.
  21. [21]
    businesswire.com. "The Knot and WeddingWire Announce New Combined Company—The Knot Worldwide—the Global Leader in the Wedding Industry" "businesswire.com" 14 March 2019. Retrieved on 9 April 2019.
  22. [22]
    "BREAKING NEWS: THE KNOT WORLDWIDE ACQUIRES HITCHED AND YOU & YOUR WEDDING". Wedding Trader. February 4, 2020.
  23. [23]
    Stacey Leasca (February 19, 2021). "The Knot Wants to Help 21 Deserving Essential Workers Plan and Pay for Their Dream Proposal". Travel and Leisure.
  24. [24]
    Drew Neisser (March 30, 2021). "HOW THE KNOT WORLDWIDE COUNSELED THE WEDDING INDUSTRY THROUGH PANDEMIC". AdAge.
  25. [25]
    Ann Schmidt (August 5, 2020). "The Knot launches new wedding registry in competition with Zola". Fox Business.
  26. [26]
    Samantha Grindell (May 23, 2022). "Vera Wang thinks brides are drawn to 'sexier' wedding gowns because they're often more comfortable than traditional dresses". Business Insider.
  27. [27]
    Dana Rose Faclone (April 28, 2022). "Jordan Rodgers Jokes His Wedding to JoJo Fletcher 'Snuck Up on Us' After 2 Postponements". People.
  28. [28]
    Nicholas Rice; Benjamin VanHoose (September 28, 2021). "Jenna Dewan Says She's Still 'Figuring Out the Ins and Outs' of Her Upcoming Wedding to Steve Kazee". People.
  29. [29]
    Rosemary Feitelberg (January 25, 2021). "The Knot Worldwide Aims to Support Underrepresented Businesses". WWD.
  30. [30]
    "The Bump's 'Black Maternal Health' Hub Works to Reduce Black Maternal Mortality". Cheddar. December 16, 2021.
  31. [31]
    Sabrina Sanchez (July 31, 2023). "The Knot launches refreshed look and brand platform for Gen Z couples". Campaign.
  32. [32]
    "The Knot Worldwide Strengthens Global Wedding Vendor Marketplace Business With New Senior Leadership and Key Investments". Yahoo Finance. March 15, 2023.
  33. [33]
    "The Knot Worldwide Acquires Zankyou". Finsmes. February 3, 2023.

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