Central Florida Nesties
Founders David Lui and wife Carley Roney dumping stock. Public record.
Operations stuck in a mire. Content entry system not updated since initial launch 12 years ago. Wedding channel acquisition never properly intigrated. Macy's registries down 60%. Macy's has already said they will not re-sign when contract ends in 2010.
Lui shopping for takeover but books show very little savings to be had.
Company primed for hostile takeover.The "tanking" description seems a bit shrill, although we would like to know why Janet and Salley left. Also, revenue has flatlined this year--even before the recession--which isn't a great sign.
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Could the Knot be on it's last legs?
And would it take down the Nest with it?
?
?
The Knot Imploding -- TipsterBy Henry BlodgetDECEMBER 16, 2008: 04:37 PM ET
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(alleyinsider.com) -- We got the following anonymous note about The Knot (KNOT), which, truth be told, is a company we hadn't thought about in a few days. We have no idea whether it's true. Anyone at the company care to weigh in?The Knot Inc. is tanking.?Brain Drain - newly hired executive team touted six months ago already leaving for greener pastures after just six months. Janet Scardeno president and chief marketing officer left in September after just 6 mos. Salley Jones VP editorial director of online left in October. Lower level editors being let go and not replaced. See media bistro job ads -- knot looking for "interns" for skilled jobs such as photo editors with no experience, no pay.Founders David Lui and wife Carley Roney dumping stock. Public record.
Operations stuck in a mire. Content entry system not updated since initial launch 12 years ago. Wedding channel acquisition never properly intigrated. Macy's registries down 60%. Macy's has already said they will not re-sign when contract ends in 2010.
Lui shopping for takeover but books show very little savings to be had.
Company primed for hostile takeover.The "tanking" description seems a bit shrill, although we would like to know why Janet and Salley left. Also, revenue has flatlined this year--even before the recession--which isn't a great sign.
The company generated about $100 million of revenue last year with a 15% operating margin, so it's hardly a bad business. It's still trading at about 18X last year's operating income, though, which could make a big takeover premium tough, especially in this environment. The best plan is probably to stabilize management and ride out the storm.?
Re: Could the Knot be on it's last legs?
That would be a bummer. I have to say though, it does seem like they could manage things better than they do, so I guess I wouldn't be totally surprised. I also wouldn't be surprised if some other site took them over and rolled the message boards into their site. That's a huge group of customers/users to allow to disappear, so I'm sure that portion of the site could be sold off, if nothing else.
What do y'all think?