Tag Archives: Ancestry.com
Ancestry.com Buys iArchives For $27 Million
Ancestry.com has acquired iArchives.com for $27 million. This is Ancestry.com’s second major acquisition within the last 3 months. Earlier this year, Ancestry.com acquired Sweden-based genealogy website Genline.com for $6.7 million in cash.
(more…)
Categories Ancestry.com, Archives.com, Genline.com, iArchives, Inflection
Leave a comment
Ancestry.com Acquires Swedish Genealogy Website Genline For $6.7M
Genealogy conglomerate service Ancestry.com has acquired Swedish genealogy website Genline.se for $6.7 million in cash. Several months ago, Ancestry competitor MyHeritage.com bought Germany’s OSN Group for an undisclosed amount. Genline will be integrated into Ancestry.com’s line of global web properties. Genline has about 17,000 paid subscribers with access to 26 million pages of digitized Swedish church records. These church records go back over 400 years ago to the 16th century.
Full press release below (paidContent).
Categories Ancestry.com, Genline.se
Leave a comment
Ancestry.com Files For An IPO
Ancestry.com is a genealogy company that recently filed for an IPO. The company hopes to raise $75 million as part of the public offering. The IPO was revealed in a recent SEC filing. Ancestry plans to list themselves on either the NASDAQ or the NYSE under the symbol ACOM with Morgan Stanley and Bank of America’s Merrill Lynch acting as the lead underwriters.
Ancestry started in 1983 under the name Generations Network. The company changed the name to Ancestry.com Inc. last month in order to prepare for the IPO according to paidContent.
Some of the related websites and software that Ancestry.com owns includes Family Tree Maker, myfamily.com, Rootsweb, MyCanvas, Jiapu.com, and Genealogy.com. The company sold $300 million worth of equity stake to previous investor Spectrum Equity Investors in 2007 as part of a recap. Before that Ancestry.com raised $95 million in funding from Sorenson Media, CMGI@Ventures, and several other investors.
Ancestry.com has about one million paying subscribers and their revenue for 2008 was $197.6 million. Thus far the company invested $80 million to acquire and digitize additional records. The company’s profits for the first 6 months in 2009 was $8.18 million. During the same period the year before, the company made $1.24 million in profits.
The company plans to repay a large amount of debt to credit facility CIT Lending Services Corporation.