LogoMobile

NYSE: XOXO(common stock)

19.89 +0.00 +0% Volume: 49,200 Minimum 20 min delay October 18, 2017

Press Release Details

XO Group Acquires Photo-Sharing App Veri, Offering First-Ever Mobile Autoshare Technology For Wedding Day Photos

09/27/2017

The Knot, the #1 Wedding Brand, Marketplace and App, Strengthens Connection Between Couples and Their Guests While Providing First-of-Its-Kind Wedding Day Photo-Sharing Solution

NEW YORK, Sept. 27, 2017 /PRNewswire/ -- XO Group Inc. today announced the acquisition of Veri, the first and only photo-sharing app focused on weddings and events that automatically shares photos from the user's built-in camera on their mobile device. Created for weddings and other special events, Veri uses its autoshare technology to instantly distribute photos and videos automatically with the couple and other guests—no need to open the Veri app, manually upload or post photos with a hashtag. With the acquisition of Veri, XO Group's flagship brand The Knot continues to deepen connections between couples and guests, while providing couples with the best services and solutions to create the most enjoyable and stress-free wedding day possible.

Veri, the first and only photo-sharing app focused on weddings and events that automatically shares photos from the user’s built-in camera on their mobile device.

Created by the founders of Memoir, one of the first photo-sharing apps that allows you to discover old photo memories, Veri is the only events photo-sharing app with an automatic upload capability. In addition to their professional photos, couples using Veri receive an average of 800-1,000 photos and videos from their wedding guests, while those using a wedding hashtag on Instagram receive an average of 22 photos.*  

On average, guests attend two weddings per year, and 95 percent attend at least one other wedding-related event in addition to the wedding.** Guests attending multiple events and weddings can now use one app to share all their momentous photos privately. The Veri app's autosharing simplicity requires virtually no effort for guests to share their photos; guests simply use their normal iPhone or Android camera, and photos and videos are instantly shared. Because Veri is private, photos won't be shared with non-wedding guests like they are on social media. Additionally, couples can use Veri for all wedding-related events (engagement party, bridal shower, bachelor/bachelorette party), so couples and guests can share and receive hundreds of photos from the events where there's not typically a professional photographer present.

"Professional photographers play a critical and irreplaceable part in capturing your wedding celebration, but the ability to easily and automatically receive all of your guests' photos, in addition to your professional ones, is truly magical and valuable," said Brent Tworetzky, Executive Vice President, Product, XO Group Inc. "Veri is the first and only app to take the work out of guest photo-sharing, and we're thrilled to bring this one-of-a-kind service to our couples—not only those planning a wedding, but having a baby, throwing birthday parties and celebrating all of life's special moments. We welcome cofounders Lee Hoffman and Angela Kim and the entire Veri team to our XO Group family."

"XO Group owns and operates the best lifestage tech brands in the business. From every couple's go-to wedding planning resource, The Knot, to the leading entertainment booking marketplace GigMasters, we couldn't think of a better home for Veri," said Lee Hoffman, CEO and cofounder of Veri. "We're very excited to join this innovative team."

Acquisition Details 
The total acquisition price for Veri is $3.5 million in cash for complete ownership of the company. The acquisition closed on Friday, September 15, 2017. Additional details will be provided during the company's third quarter 2017 earnings conference call.

*Based on internal research. 
**Source: The Knot 2016 Guest Study

About XO Group Inc. 
Our mission is to help people navigate and truly enjoy life's biggest moments, together. Our multi-platform brands guide couples through transformative life stages—from getting married with The Knot, to moving in together with The Nest, to having a baby with The Bump, and helping bring important celebrations to life with entertainment vendors from GigMasters. The company is publicly listed on the New York Stock Exchange (XOXO) and is headquartered in New York City.

About The Knot 
The Knot is the nation's leading wedding resource and marketplace that seamlessly engages, matches and connects couples with the right products, services and local wedding professionals they need to plan and pull off their wedding. The trusted brand reaches a majority of engaged couples in the US through the #1 wedding website TheKnot.com, its mobile apps, The Knot national and local wedding magazines, and The Knot book series. The Knot has inspired approximately 25 million couples to plan a wedding that's uniquely them. The Knot is the flagship brand of XO Group Inc. (NYSE: XOXO), which helps people navigate and enjoy life's biggest moments—from getting married to moving in together and having a baby. Please visit The Knot online at TheKnot.com and follow on social media: Facebook.com/TheKnot and @TheKnot on Twitter, Pinterest and Instagram.

Forward-Looking Statements
This release may contain projections or other forward-looking statements regarding future events or our future financial performance. These statements are only predictions and reflect our current beliefs and expectations. Actual events or results may differ materially from those contained in the projections or forward-looking statements. It is routine for internal projections and expectations to change, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we will not necessarily inform you if they do or update this release. Please refer to documents we file from time to time with the Securities and Exchange Commission for a discussion of the risks and other factors that could cause actual results to differ materially from the forward-looking statements contained herein. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

XO Group Inc. (PRNewsFoto/XO Group Inc.)

View original content with multimedia:http://www.prnewswire.com/news-releases/xo-group-acquires-photo-sharing-app-veri-offering-first-ever-mobile-autoshare-technology-for-wedding-day-photos-300526450.html

SOURCE XO Group Inc.

Melissa Bach, PR Director, XO Group Inc., (212) 515-3594, mbach@xogrp.com or Ivan Marmolejos, Investor Relations, XO Group Inc., (718) 560-2217, imarmolejos@xogrp.com

Questions?

If you have any investor relations questions you can contact us at:

IR@xogrp.com

Email Alerts

Automatically receive XO Group financial information by email from XO Group Inc.

Email Address: *
Mailing Lists




 
Enter the code shown above.

Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk.

Neither XO Group Inc. nor its affiliates, subsidiaries, officers, directors or agents (collectively, “XO Group” or the “Company”) have any control over (a) the External Site or any linked websites accessible through any External Site, or (b) any data or other content contained, or accessible, therein or in or through any such linked websites. The link to the External Site is provided for convenience purposes only. The information and other content on the External Site is not meant to modify, qualify, supplement or amend information disclosed by or on behalf of the Company under corporate, securities or other legislation in any jurisdiction, and should not be used to make investment decisions involving the Company’s securities.

By clicking “Accept” below you acknowledge and agree that neither XO Group nor the third party provider of the External Site, Virtua Research, Inc. (“Virtua”), is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data contained in or accessible on or through, or the technical operation of the External Site. XO Group and Virtua are not liable to you for, and take no responsibility for, third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably forever waive, and release XO Group from, any and all rights and claims against XO Group and Virtua and further acknowledge and agree that in no event shall XO Group or Virtua, its officers, employees, directors and agents be liable for any (i) direct or indirect, consequential, incidental, special, compensatory, punitive or other damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to this disclaimer or the External Site or any linked websites.

By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if XO Groupr and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s).

If in any jurisdiction, any part of this disclaimer is determined to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent necessary to comply with such determination and the remaining disclaimer shall otherwise remain in full force and effect.

Please note the information presented is given as at the date and the time of its original release. Changes in such historical information may occur due to adjustments in accounting and reporting standards & procedures.

Non-GAAP Information

XO Group Inc also uses certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP"), including adjusted EBITDA, adjusted net income, adjusted net income per diluted share and free cash flow. These non-GAAP measures have important limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under U.S. GAAP. Our use of these terms may vary from the use of similarly-titled measures by others in our industry due to the potential inconsistencies in the method of calculation and differences due to items subject to interpretation.

Management defines its non-GAAP financial measures as follows:

  • Adjusted EBITDA represents U.S. GAAP net income (loss) adjusted to exclude, if applicable: (1) provision (benefit) for income taxes, (2) depreciation and amortization, (3) stock-based compensation expense, (4) impairment charges and asset write-offs, (5) loss in equity interests, (6) interest and other income, net (7) net loss attributable to non-controlling interest and (8) other items impacting comparability in the period.
  • Adjusted net income represents U.S. GAAP net income (loss), adjusted for incremental or unusual costs incurred in the current period, which may include: (1) impairment charges and asset write-offs, (2) executive severance and other restructuring charges and (3) the impact of certain foreign taxes, interest and penalties.
  • Adjusted net income per diluted share represents adjusted net income (as defined above), divided by the diluted weighted-average number of shares outstanding for the period.
  • Free cash flow represents U.S. GAAP net cash provided by operations, less capital expenditures.

Management believes that these non-GAAP financial measures, when viewed with our results under U.S. GAAP and the accompanying reconciliations, provide useful information about our period-over-period growth and provide additional information that is useful for evaluating our operating performance. However, adjusted EBITDA, adjusted net income, adjusted net income per diluted share and free cash flow are not measures of financial performance under U.S. GAAP and, accordingly, should not be considered substitutes for or superior to net income (loss) and net income (loss) per diluted share and net cash provided by operating activities as indicators of operating performance. A reconciliation of GAAP to Non-GAAP financial measures is included in the periodic reports and other documents filed from time-to-time by XO Group with the Securities and Exchange Commission.

Agree Decline