The Knot To Change Name to XO Group Inc.
Media company will transfer listing from NASDAQ to NYSE.
The Knot says it received stockholder approval to change its name to XO Group Inc. The company’s common stock has also been authorized for listing and is scheduled to begin trading on the NYSE on June 28 under its new trading symbol XOXO.
"Our new company name–XO Group Inc.–will be the perfect umbrella for all of our brands in the wedding, nesting and baby lifestages served by our media, products and services," said CEO David Liu in a statement.
The Knot–which offers sites such as TheNest.com and TheBump.com–reported $27.5 million in revenue in the first quarter of 2011, flat compared to the same period last year, with national online advertising up 18 percent and local advertising up 15 percent. While the company reported a 15 percent jump in publishing revenue, The Knot folded one of its print magazines, The Nest, and relaunched the brand as a digital-only quarterly in April. The company reported a net loss of $0.7 million for the first quarter.