00:00It's Benzinga bringing Wall Street to Main Street.
00:02David's Bridal plans to spin off its artificial intelligence platform, Pearl,
00:07into a publicly traded company targeting a valuation of roughly $350 million, according to CNBC.
00:14The company expects the deal to close in the first half of 2027.
00:19Pearl provides AI-powered wedding planning, appointment management, and digital content
00:24services. David's Bridal expects Pearl's revenue to grow more than 100%
00:29in 2027, exceeding $85 million. CEO Kelly Cook will lead Pearl following the separation.
00:37Pearl will own David's Bridal's intellectual property and license it back to the retailer.
00:43Sion Investment Corp. has proposed a $25 million investment in Pearl.
00:47The spinoff follows David's Bridal's bankruptcy filings in 2018 and 2023.
00:52For all things money, visit Benzinga.com.
