Catalyst Investors Buys Major Stake in Bethesda-Based WeddingWire
Bethesda, Md. — WeddingWire, U.S. leading online wedding company serving the $70 billion wedding industry has announced the acquisition of its largest non-founder stakeholder the Martha Stewart Living Omnimedia by the New York-based private equity firm Catalyst Investors.
Martha Stewart Living Omnimedia, Inc. is a multi media and merchandise company which operates in different fields such as cooking and entertainment, holidays, crafts, home, whole living, weddings, organizing, and gardening. The company manages four very successful segments such as the Publishing, Merchandising, Internet, and Broadcasting. It produces the hit show Martha Stewart show and also handles the internet merchandise site MarthaStewart.com.
“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.”
As part of the deal, Catalyst co-founders Ryan McNally and Brian Rich will join WeddingWire’s board of directors.
This year, WeddingWire acquired one of its major competitors ProjectWedding.com from eHarmony and partnered with Conde Nast’s Brides.com.
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