The Knot Inc. said earlier this week that they are buying back stake in their company from Macy’s. They are buying 10.7% stake back for $37.7 million. The shares were bought back at a closing price of $10.26. Macy’s CFO Karen Hoguet said that Macy’s achieved their strategic goals as a shareholder and will continue to partner with The Knot. “Macy’s and its predecessor department stores have been long-time, valued shareholders of The Knot and our subsidiary WeddingChannel.com,” said Knot Chief Executive David Liu said in an interview with the WSJ.

Just when I thought that Facebook applications were slowing down after the new design, WedSnap has been acquired.  WedSnap is the parent company of WeddingBook, a Facebook application with about 400,000 active users.  WeddingBook is an application that connects Facebook users to wedding events.

WeddingBook features photos, dresses, stylish wedding decor suggestions, fellow brides and grooms to chat with, a wedding countdown.  There is also a built in Wedding profile box, a guest book, wedding party RSVPs, engagement photos, wedding statuses, links to registries and wedding websites.

WeddingBook won a $250,000 grant from the fbFund in October 2008.  The financial details of the acquisition were not disclosed.  After the acquisition was made, TheKnot’s brand was integrated into the application.

[via Mashable]