In its second-largest acquisition, Amazon buys the company for $970 million.
E-commerce revenue grew about 4% to $8.43 million in the second quarter.
The Knot Inc. saw its web merchandise sales inch ahead in the second quarter.
For the second quarter ended June 30, The Knot reported:
- E-commerce and online merchandsing revenue grew about 4% to $8.43 million from $8.11 million in the second quarter of 2009.
- Total revenue was $30.6 million, up by 3.7% from $29.5 million a year earlier.
- Net income declined 29.4% to $1.2 million compared with $1.7 million a year earlier.
“During the quarter, we soft launched our beta Chinese web site, Ijie.com, a universal registry platform, GiftRegistry360.com and a vendor reviews platform on WeddingChannel.com,” says CEO David Liu. “Each of these exciting new products brings innovative new offerings to market and demonstrates our focus on catalyzing the company’s most attractive market opportunities in registry services, local advertising and in China.”
Internet Retailer calculates e-commerce and online merchandsing revenue accounted for 27.5% of total sales, the same as the prior year
For the first two quarters, The Knot reported:
- E-commerce and online merchandsing revenue grew 15.8% to $15.36 million from $13.27 million in the period of January through June in the 2009.
- Total revenue was $58.1 million, up by 9.2% from $53.2 million a year earlier.
- Net income increased 158% to $1.04 million compared with $403,000 a year earlier.
Internet Retailer calculates e-commerce and online merchandsing revenue accounted for 26.4% of total sales, up from 24.9% in the prior year.
Earlier this month the Knot, No. 335 in the Internet Retailer Top 500 Guide, launched WeddingChannel Deals, giving the 1.9 million registered members of TheKnot.com and its sister site, WeddingChannel.com, access to deals on everything from honeymoons to photographers.