Bethesda's WeddingWire raises $25 million to become Yelp of wedding planning
WeddingWire.com of Bethesda recently raised $25 million in capital to fund growth. (October 9, 2012)
WeddingWire.com raised $25 million in equity financing as the Bethesda-based company strives to be the Yelp of weddings for brides, grooms and event planners, according to an SEC filing made public today.
Some say WeddingWire is trying to be the Yelp of wedding planning, offering tools for wedding planners and reviews of vendors (over 200,000 vendors reviewed). The company says it's targeting a $100 billion industry.
The company disclosed the news last month in a news statement. It got the investment from Spectrum Equity, which invests in internet technology companies.
A report in AllThingsD last month -- citing anonymous sources -- said that WeddingWire is profitable, and that the new investment will be used to fund growth and buy out some existing investors.
From the ATD article: This year, Inc. magazine named WeddingWire the 309th fastest-growing private company. According to that information, the company’s 2011 revenue totaled $10.1 million, up 1,200 percent over the past three years. It has 100 employees.