New York, NY (PRWEB) October 13, 2012
Local Business Review Site 5StarControl has applauded the announcement of a new round of funding worth $25 million for WeddingWire, the business review site that focuses on wedding planning.
5StarControl said that small businesses are going to be entranced by the news of the $25 million in financing secured by WeddingWire, reported by The Baltimore Sun, as it moves towards its eventual goal of becoming the Yelp for wedding planning services.
WeddingWire is based in Bethesda, Maryland, which is mainly known for its famous naval hospital. Founded in 2005 by Timothy Chi, formerly of Blackboard Inc., WeddingWire went live in the spring of 2007. The website provides reviews and listings of thousands of vendors in the wedding industry, which according The Baltimore Sun, is a $100 billion a year industry. The website not only provides listings, but also wedding planning tools for individual brides and grooms, as well as wedding planning professionals.
Yelp is the most well-known social media company in the arena of online user reviews and business listings. Currently hosting more than 40 million reviews of businesses in the United States as well as 19 other countries, Yelp is visited by over 78 million unique people every month. Yelp is a vehicle in which people can find local businesses, and then rate them and write reviews of these businesses. Yelp is also a popular form of local business online marketing, as businesses can advertise through Yelp, as well as offer gift certificates and coupons through their website.
The new round of equity financing for WeddingWire was reported on by The Baltimore Sun. With the largest circulation of any daily newspaper in Maryland, The Baltimore Sun serves Baltimore and surrounding communities, including Bethesda, Maryland. One of the oldest newspapers in America, The Baltimore Sun was founded in 1837 and has produced daily newspapers ever since. One noted former reporter is David Simon, creator of the popular cable television program, The Wire.
The article in The Baltimore Sun reporting on the new round of financing for WeddingWire stated that WeddingWire is profitable, and could continue to see growth that would take it the level of a serious challenger to Yelp in the wedding industry. Local businesses and consumers benefit from more information available to them through online review sites. The article said that WeddingWire will use the new funds to buy out some investors, and promote growth of the service.
5StarControl is a website on local business news in the area of online review sites.