Party City Partners with Punchbowl

Party City (Rockaway, N.J.) has taken a minority stake in digital invitations platform Punchbowl (Framingham, Mass.). The deal will allow the retailer to use Punchbowl’s technology to power its online invitations.

The companies did not disclose how much of a stake Party City made, but, according to Tech Crunch, it appears that the investment amounts to about $4 million. As a consequence, Party City’s president Ryan Vero has joined Punchbowl’s board of directors.

For Punchbowl, the deal allows the company to be exposed to more customers and grow its business. This was one of various options that the two companies were considering; the companies have been in talks for a couple of years.