In a move to spice up its married life, wedding planning website The Knot
As the most popular wedding-related app on Facebook, Weddingbook offers an engaging interactive platform that allows couples to update wedding details and bridal registries. Guests can also warm up to one another through message board discussions and checking out profiles, so they are no longer strangers by the time the big day arrives.
It's just the latest buy for The Knot. It acquired Breastfeeding.com last week, as part of its efforts to grow into a wider lifestyle media company. The Knot claims to reach 80% of all to-be-weds online. Educational sites like Breastfeeding help the company reach out to its captive audience longer into the courtship cycle.
Broadening its wingspan doesn't mean that it will own new niches outside of its matrimonial stronghold. The Knot is toiling in markets where Martha Stewart Living Omnimedia
However, The Knot can't afford to let crowded markets get in the way. The company has missed Wall Street expectations in three of the six previous quarters. Its most recent quarter was one of the two winners, but it wasn't impressive on absolute basis. Net income fell by 24% on a modest 8% top-line advance.
These aren't the best of days to be delivering leads to wedding service providers. Folks are scaling back on their wedding plans, if not putting off the big day altogether. You see this happening with the weakness at engagement ring specialist Blue Nile
The Knot's wedding referral business will bounce back eventually, but it's refreshing to see the company gobble up logical puzzle pieces during the market lull. With roughly half of its market cap spoken for by its $3.60 a share in cash and auction-rate securities, it couldn't pick a better time to be a sugar daddy.
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Longtime Fool contributor Rick Munarriz got married years before TheKnot.com was around and he regrets that. He could have had a punctual person working the video camera that day. He does not own shares in any of the companies in this story, save for Disney. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.