XO Group

Last updated
XO Group
FoundedMay 1996;25 years ago (1996-05) (as The Knot Inc.)
FounderDavid Liu
Carley Roney
DefunctMarch 24, 2019 (2019-03-24) (Merged with WeddingWire)
SuccessorThe Knot Worldwide
Headquarters
195 Broadway
New York City, New York
,
U.S.
Website theknotww.com

XO Group (formerly The Knot Inc.) was an American media and technology company that provided content, tools, products and services for couples who were planning weddings, creating a home, and starting a family. The company generated revenue through online advertising, merchandising, registry services, and publishing. In 2019, the company merged with WeddingWire to become The Knot Worldwide under ownership of WeddingWire's investors. Its divisions remained intact, but the XO Group name has been retired.

Contents

History

David Liu, his wife Carley Roney and their business partners, Rob Fassino, and Michael Wolfson founded The Knot Inc. in 1996. [1] They found that the internet could facilitate and reduce anxiety in the process of wedding planning between couples. [1] The startup received seed financing from AOL, the partners launched The Knot brand as a portal on AOL. [2] In 1997, TheKnot.com launched on the internet. [3]

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. [4] In December 1999, the company raised $35 million in an initial public offering. [5]

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. [6]

In 2004, the company launched a television series, Real Weddings from The Knot, on the Oxygen Network. [7]

The Nest brand launched in 2005 with a website, and a magazine followed in 2006. [8]

In 2006, the company acquired WeddingChannel.com which included its registry platform and helped to consolidate the bridal media industry. [9]

In 2008, the company launched TheBump.com to serve expectant and new parents. [10]

In June 2011, the company transferred its common stock listing to the New York Stock Exchange (NYSE) with the symbol "XOXO". [11]

Mike Steib joined XO Group as president in July 2013 and assumed the role of CEO in March 2014. [12]

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. [13]

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. [14] The merger became official in March 2019 and the new parent company was renamed to The Knot Worldwide. [15]

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References

  1. 1 2 "Carley Roney and David Liu - Photo Essays". TIME. 2007-11-15. Archived from the original on November 17, 2007. Retrieved 2010-03-25.
  2. ↑ "Corner Office: David Liu and Carley Roney Tie the Knot | SUCCESS Magazine | What Achievers Read". SUCCESS Magazine. Retrieved 2010-03-25.
  3. ↑ Roney, Carley (2007-11-15). "Something Old, Something New". TIME. Archived from the original on November 18, 2007. Retrieved 2010-03-25.
  4. ↑ "The Knot: Here Come The Brides". Businessweek.com. 2005-04-11. Archived from the original on January 4, 2010. Retrieved 2010-03-25.
  5. ↑ Hass, Nancy (1999-12-05). "A NIGHT OUT WITH - Carley Roney - At the .com Wedding". NYTimes.com. Retrieved 2010-03-25.
  6. ↑ "The Knot, Inc. Company Profile, Information, Business Description, History, Background Information on The Knot, Inc". www.referenceforbusiness.com. Retrieved 2018-01-26.
  7. ↑ Tedeschi, Bob (2005-03-14). "Web Sites Try Offering TV Shows". The New York Times.
  8. ↑ "The Nest - 50 Best Websites 2008". TIME. 2008-06-17. Archived from the original on June 19, 2008. Retrieved 2010-03-25.
  9. ↑ "The Knot And WeddingChannel: Just Married". Businessweek.com. Archived from the original on April 10, 2010. Retrieved 2010-03-25.
  10. ↑ "About us". The Bump. Retrieved 2015-01-14.
  11. ↑ "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.
  12. ↑ 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
  13. ↑ Geomarketing.com. Chamberlain, Lauryn. "XO Group Expands Wedding Marketplace, Acquiring GigMasters" "Geomarketing.com" 6 October 2015. Retrieved on 30 November 2015.
  14. ↑ Nypost.com. Reuters. "WeddingWire to merge with XO Group in $933M deal" "nypost.com" 25 September 2018. Retrieved on 9 April 2019.
  15. ↑ 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.

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