Weddings & Divorces Post-IPO

From ft.com's Tech Hub:

“A lot of people who work at Facebook are in their 20s and 30s,” says Sophie Lai, a wedding planner based in Sunnyvale. “I hope, at the IPO, people get cash and start thinking ‘it’s time to settle down and get married’.”

Jean Marks, a wedding planner in Palo Alto, said the budgets people have been willing to set for weddings have been going up, particularly among technology entrepreneurs who sell their start-ups.

“We have had a bubble of fairly extravagant weddings in last five years,” she says.

At the high end, Ms Marks has worked on weddings costing between $300,000 and $500,000, with one financier hosting a $1m reception. The average wedding costs between $65,000 and $75,000 for 150 people, she says.

At the same time that a windfall can make couples feel ready to tie the knot, it can also give unhappy couples the confidence and financial stability to split. Or, as newly minted millionaires wrestle with the responsibility that money brings, some get frazzled and difficult to be around, while others develop a sense of entitlement that leaves them discontent in their relationship.

Read more here.

MR

Hat Tip: Gus Hurwitz