NEW YORK, Oct. 28 /PRNewswire-FirstCall/ -- Martha Stewart Living
Omnimedia, Inc. (NYSE: MSO) today announced an agreement to invest in, and
enter a commercial agreement with, Pingg Corp. (www.pingg.com), an online
event management site that offers stylish invitations and easy-to-use event
planning tools. The move reflects MSLO's strategy to broaden its digital
Pingg was created by seasoned entrepreneurs Lorien Gabel and Matt Harrop,
who together have founded, built and sold two successful technology startups.
The site offers customizable invitations that can be delivered electronically,
in print or shared on a social network. It also allows customers to easily
personalize their event webpage and manage RSVPs, guest lists, reminders,
last-minute changes and thank-you notes. Pingg.com launched in February 2008.
Since then, approximately 2.5 million invitations have been sent through
Pingg.com. Its business model combines both online advertising and paid
Wenda Harris Millard, President of Media and Co-CEO of MSLO, said: "Pingg
has created a superb platform in an area where MSLO has tremendous brand
equity: entertaining. Like our WeddingWire investment made earlier this
year, Pingg illustrates our commitment to our digital business and our focus
on growing our core franchises in new and exciting ways by providing tools and
resources that enable our customers to carry out the inspiring ideas they
expect from Martha Stewart. By bringing together MSLO's holiday and
entertaining inspiration with Pingg's digital invitation and planning tools,
we can provide a best-in-class experience for hosts and a growth opportunity
for our company."
Through the commercial agreement, Pingg will offer its online invitation
and event management tools on marthastewart.com. In addition, Pingg's main web
property, www.pingg.com, will receive Martha Stewart Living Omnimedia content,
which will include integrated links to drive traffic to marthastewart.com.
Pingg has also designated MSLO as its exclusive national advertising sales
force for the duration of the agreement.
"Securing MSLO, the pre-eminent name in entertaining, as a major investor
is a great validation of our business and our technology," said Lorien Gabel,
CEO and Co-Founder of Pingg. "We are excited by the potential of bringing our
online tools to Martha's large, enthusiastic audience, and we're looking
forward to our new partner's strategic insights as we build the company."
As part of MSLO's investment, VP of Strategy and Development Joseph
Holland will join Pingg's board of directors.
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) is a diversified media
and merchandising company, inspiring and engaging consumers with unique
lifestyle content and distinctive products. The Publishing segment encompasses
four magazines, including the company's flagship publication, Martha Stewart
Living, periodic special issues and books. The marthastewart.com website
provides consumers with instant access to MSLO's multimedia library, search
and find capabilities, recipes, online workshops, community and
personalization, as well as wedding-planning tools powered by WeddingWire. The
Broadcasting segment produces such programming as the Emmy-winning daily,
nationally syndicated television series, "The Martha Stewart Show," and Martha
Stewart Living Radio, channel 112 on SIRIUS Satellite Radio. In addition to
its media properties, MSLO offers high-quality Martha Stewart products through
licensing agreements with carefully selected companies, including the Martha
Stewart Collection exclusively at Macy's, Martha Stewart Everyday at Kmart,
Martha Stewart Crafts with EK Success at Wal-Mart, Michaels and independent
retailers, Martha Stewart for 1-800-Flowers.com and a co-branded food line
with Costco. In April 2008, Emeril Lagasse joined the Martha Stewart family of
brands; MSLO acquired the assets related to Lagasse's media and merchandising
business, including television programming, cookbooks, and emerils.com website
and his licensed kitchen and food products. For additional information about
MSLO, visit www.marthastewart.com.
Based in New York, pingg.com was co-founded in 2006 by brothers Lorien
(Tree) Gabel and (Ami) Matt Harrop. Lorien and Matt are CEO and CTO
respectively. Their third business venture together, pingg.com is a new, free
invitation creation and event management platform that lets design conscious
hosts seamlessly create, send and manage stylish invitations and event
communications for personal and professional events via online and print. With
stylish designs, integrated print, social networking features, customizable
event web page and easy to use tools, pingg is changing the way hosts create
and plan their events on the web. For more information, visit pingg.com.
SOURCE Martha Stewart Living Omnimedia, Inc.
CONTACT: Elizabeth Estroff, SVP, Corporate Communications of Martha
Stewart Living Omnimedia, +1-212-827-8281, firstname.lastname@example.org/
Web Site: http://www.marthastewart.com