$350MDivestiture / carve-outConsumer & Retail
David's Bridal to spin off AI wedding platform Pearl at $350M valuation
David's Bridal will separate Pearl, its AI-focused wedding planning and media platform, into a stand-alone public company valued at $350 million. The deal anticipates $75 million in PIPE funding, including a $25 million anchor from largest shareholder CION Investment Corporation. CEO Kelly Cook is expected to lead Pearl, and David's Bridal will remain a material shareholder.
Why it matters: The split lets the bridal retailer's tech and IP arm grow independently of its store operations.
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