The company failed to find a buyer.
Loverly, a wedding planning startup, is undergoing a restructuring, according to CEO Kellee Khalil. The company laid off all of its staff but two.
In 2015, Loverly tested an e-commerce product, which did not go as planned, according to Khalil. Last year the company launched a virtual wedding planner product that was seeing adoption. The company set out to raise a new round of funding to scale it. In the process, Loverly received acquisition interest that “didn’t pan out in the timeline we had laid out,” she says.
Khalil said the company pulled its app from the App Store because of the resources required to maintain it, but the company is not shutting down. Loverly continues to work with partners and publish content.
Loverly was founded in 2011. It raised $7 million in venture funding from Covera Ventures, Montage Ventures, 645 Ventures, Comcast Ventures, Great Oaks Venture Capital, Female Founders Fund, GrowthX, Quotidian Ventures.