WeddingWire Secures $350 Million Investment from Permira Funds
On May 22, 2018, WeddingWire, a leading global online marketplace connecting engaged couples with wedding professionals, and Permira, a global private equity firm, announced that they have entered into a definitive agreement whereby a company backed by the Permira funds will invest $350 million in WeddingWire, becoming the company's majority shareholder. Wilson Sonsini Goodrich & Rosati is representing WeddingWire in the transaction.
As part of the transaction, WeddingWire's management team and existing investor Spectrum Equity will maintain a significant minority ownership in the company. The new investment will support WeddingWire 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 transaction is expected to close by the third quarter of 2018, subject to customary closing conditions, including regulatory review.
The WSGR team representing WeddingWire in the transaction includes:
Myra Sutanto Shen
Employee Benefits and Compensation:
For additional information, please see WeddingWire's press release.