Ancestry.com Acquires 1000memories
1000memories is a website and mobile app companies that lets you store, organize, and digitize print photographs. 1000memories has been acquired by Ancestry.com. 1000memories will continue to operate independently, but will be given more resources. 1000memories was started in 2010 with a purpose to store collections of family photos. These family photos can be stored in virtual “shoeboxes.” 1000memories has an iOS and Android app that lets you take photos of your individual printed photos and then edit them. Then they can be saved to your 1000memories account with captions, dates, and tags.
“Ancestry is very excited about our brand and what we do at 1000memories and plans to invest in our ongoing growth and development,” stated 1000memories co-founder Rudy Adler. “Our companies are tackling the same problem – helping our users preserve and share their family history – in different ways.”
“Ancestry is helping people preserve the family records lost in the world. We are helping them preserve the family records lost in their closets. We believe we are stronger together,” he added.
1000memories has 260,000 users and their Shoebox mobile app has been downloaded around 500,000 times. The terms of the acquisition are unknown. 1000memories has raised $2.54 million in venture capital from Greylock Partners, SV Angel, Y Combinator, Founder Collective, and Lowercase Capital. All 6 of 1000memories’ employees will join Ancestry.com.
Although terms of the deal are not being disclosed, Adler says that they worked closely with their investors and they are happy with the outcome. 1000memories had taken in $2.54 million in outside investment from Greylock Partners, Y Combinator, SV Angel, Founder Collective, and Lowercase Capital, as well as individual angels. All six of 1000memories employees will join Ancestry.com, and will work of Ancestry’s new HQ in SOMA.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry