Going public
In 1994, FTD began a process of demutualization, acquiring control of the business, and ownership of its assets.
On December 19, 1994, a precursor to the FTD Corporation, a private, for-profit company Perry Capital, acquired FTD, which then divided FTD into two organizations: FTD Incorporated, a for profit corporation, and FTD Association, a non-profit trade association.
FTD Incorporated retained FTD's businesses, including the Mercury Network and the clearinghouse, and controlled FTD Association's rules, regulations, and bylaws. The FTD Association retained member education, advocacy and quality assurance.
In 2000, FTD Incorporated held an initial public offering of FTD.com on the NASDAQ. FTD Group was listed on the NYSE in 2005. The company is based in Downers Grove, Illinois.
In 2001, the FTD Association separated from FTD Incorporated, terminated all contracts, and, in exchange for $14 million, renamed itself Extra Touch Floral Association, and later, Retail Florist Association. It is based in Livonia, Michigan.[7][8]
In 2008, United Online (Nasdaq: UNTD) announced a merger agreement with FTD Group, valued at $800 million.[9] The acquisition was completed and shares of FTD ceased to trade on the NYSE August 26, 2008.
In 2013, FTD is spun off from United Online resulting in FTD Companies, Inc. becoming an independent, publicly traded company listed on NASDAQ.
In July 2019, FTD's North American and Latin America consumer and florist businesses were purchased by Nexus Capital Management and thusly have become a privately owned company and no longer will be a publicly traded company.
In May 2023, FTD merged with From You Flowers, LLC. Michael Chapin, founder and CEO of From You Flowers, took over as CEO of the combined companies.[10] From You Flowers, LLC does not have any retail locations and depend on florists within wire service networks to complete their orders. At the time of the merger From You Flowers, LLC held a 1 star rating across many platforms. [11][12]
Acquisitions
In 1994, FTD was acquired by Perry Capital Corporation from the florists and converted into a for-profit corporation.
On July 31, 2006, FTD, Inc. announced its acquisition of Interflora Holdings, a UK-based sister co-operative that offered the FTD network in Britain and Ireland under the Interflora brand. "The acquisition, first announced on July 7th, 2006, was made for a purchase price of GBP 66 million, or approximately [US]$122 million, excluding transaction costs."[13]
In 2012, Interflora acquired Flying Flowers, Flowers Direct and Drake Algar in the U.K.
In July 2019, FTD's North American and Latin America consumer and florist businesses were purchased by Nexus Capital Management and are now known as FTD LLC.
In May 2023, FTD merged with From You Flowers, LLC. Michael Chapin, founder and CEO of From You Flowers, took over as CEO of the combined companies.[14]
