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WeddingWire Ranked Forbes as America’s 50 Most Promising Private Companies



Read the full article in Forbes.com

For nearly seven years now, WeddingWire has been hard at work in the D.C. suburb of Chevy Chase, quietly developing one of the leading startups in the region. Lately, though, the site’s due recognition has finally been pouring in.

In what was quite the economic boon for the state of Maryland, in November the company behind the wedding planning software-as-a-service was recognized as the second-best job creator in Maryland on Inc.’s Hire Power Awards. The same day, Deloitte acknowledged the tech company’s momentum as well, ranking it 79th on its annual Technology Fast 500 list.

WeddingWire had made both lists before, but its 2013 placements were strong improvements on both fronts.

But the company then received on Wednesday perhaps its biggest recognition yet, when Forbes ranked WeddingWire number 27 on its 2014 list of America’s Most Promising Companies. Citing CEO Timothy Chi’s ability to lead the 300-plus-employee company to a $34 million revenue – marking a 70 percent year-over-year increase – Forbes expects big things out of the company serving a more than $100 billion industry.

“WeddingWire began in my pink living room in Chevy Chase, Md., when me and my three co-founders were serving our first market – Washington, D.C.,” said Chi, also a co-founder of Blackboard. “To fast-forward seven years and be listed by Forbes as one of America’s Most Promising companies is a testament to how the DC tech community is thriving. We have to thank the incredibly innovative and brilliant minds from the local area that make up the WeddingWire team for our success, in addition to our talented and dedicated clients.”

Revenue, however, wasn’t all that went into Forbes’ Most Promising Companies choices. Rather, the team took a much more holistic approach in its methodology, which says a lot about WeddingWire.

“The final assessment is based on growth (both in sales and hiring), quality of management team and investors, margins, market size and key partnerships,” wrote J.J. Colao. “Producing a ranking in the opaque world of privately-held companies is never easy. But we’re confident that many of these are the IPOs and billion-dollar acquisitions of tomorrow.”

Arlington-based Evolent Health also made the list, coming in at No. 4.

“Being named fourth in an impressive list of America’s 100 Most Promising Companies is an honor that recognizes our entire team’s commitment and contributions to transforming health care,” CEO Frank Williams said in a statement.

In addition to this latest Forbes honor, Evolent was recently recognized as one of Modern Healthcare’s Best Places to Work. Forbes cited the healthcare company’s “rocketship” growth as the primary reason for its high placement on the list.

“Backed by $130 million in growth capital, the company is moving quickly in the wake of the Affordable Care Act to help hospitals lower healthcare premiums by setting up their own insurance businesses,” Colao wrote. “Run by former Advisory Board CEO Frank Williams, the company did $8.3 million in sales in 2012, its first full year of business. Last year: $40 million.”

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