Key facts
- The Knot Worldwide has agreed to buy Zola.
- Zola will continue to operate as a standalone brand within The Knot's portfolio.
- The Knot is owned by investment firm Permira.
- Zola raised $100 million in a Series D financing round in 2018.
- The deal is subject to customary closing conditions, including regulatory clearances.
The Knot Worldwide, a portfolio company of investment firm Permira, has agreed to acquire Zola, a competitor in the wedding planning space, according to people familiar with the transaction. Zola will continue to operate independently within The Knot's brand portfolio.
The Knot, founded in the 1990s, offers services for couples to find wedding vendors and create personalized wedding websites. Zola provides similar services, including wedding and registry sites, invitation design, and guest-list management.
Zola, launched in 2013, previously raised $100 million in a 2018 Series D financing round, which valued the company at approximately $600 million. This round was led by Comcast Ventures, with participation from NBCUniversal and Goldman Sachs Investment Partners. Zola's co-founders, Shan-Lyn Ma and Nobu Nakaguchi, remain significant shareholders.
Permira has been invested in The Knot since 2018. The company appointed Raina Moskowitz, a former Etsy executive, as CEO last year to lead business reorganization and the integration of new AI tools. The Knot launched an app within ChatGPT this year, which it described as the first of its kind in the wedding industry.
The acquisition will add Zola as the 14th brand to The Knot's portfolio. The deal is contingent upon customary closing conditions, including regulatory approvals.