Rockville, Md. - WeddingWire, a start-up that operates an online marketplace for wedding planning and a related social community, said on Tuesday that it has sold a 40% stake in the company to New York-based Martha Stewart Living Omnimedia (MSLO).

The investment is part of a larger funding round for WeddingWire, which plans to use the undisclosed amount of proceeds to develop new technologies and increase its reach nationwide.

Several of the company's previous investors also participated.

MSLO said that the deal, which also includes a media sales component, is an effort to expand its digital footprint, as well as its weddings franchise.

"With this investment, brides who rely on our content for wedding-related inspiration and ideas will be able to plan, manage and share every step of the process," said Susan Lyne, the president and CEO of MSLO.

WeddingWire operates a service allowing engaged couples to search, compare and book more than 30,000 wedding vendors nationwide. The site also includes an online community and free planning tools.

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http://www.weddingwire.com