Deals

Party-planning site Punchbowl hits 1 million users, kills the party planning committee

Punchbowl, a site that helps users handle all the specifics of putting together a sweet shindig, has crossed the one-million user mark and has brought on a mastermind of the e-card and party-invite industry.

Michael Waxman-Lenz, the former general manager of AmericanGreetings.com, has joined the board of directors, bringing about 20 years of experience in the field of throwing a bangin’ fête.

Punchbowl is essentially all elements of a party-planning process wrapped up in one confetti-popping package — users can organize and purchase supply, figure out the best times to throw down and share photos and videos of the soirée after the festivities have ended.

The company, formerly known as Mypunchbowl, is also changing its name to Punchbowl to pick up the “two-syllable effect,” as founder and CEO Matt Douglas said.

“You had a company called Thefacebook that changed its name to Facebook — did anyone question why it was worth it? No,” he said.

Punchbowl launched in 2007, and currently employs eight, with an additional four part-time contractors. The bash-arranging site has raised around $3 million in funding, including $2.1 million in its most recent round of funding in September 2008, from Intel Capital, Contour Venture Partners, and eCoast Angels.