by oneafrikan on October 19, 2007
Some interesting stuff going on lately… Contrary to some latest deals, my humble opinion is that $150 of revenue is a good motivator for making a buyout of that size… Guess time will tell (much like Skype deal has for eBay)?
Private BuyOut Of Ancestry.com For $300+ Million
Spectrum Equity Investors has led a $300 million investment to acquire a majority interest in Provo Utah-based The Generations Network (the parent company of Ancestry.com, MyFamily.com and other sites) according to a source with knowledge of the deal.
The Generations Network competes with a number of new Internet startups that weâ€™ve recently covered. Its Ancestry.com site competes with Geni and MyHeritage. MyFamily.com competes with Story Of My Life, Our Story and others.
Geniâ€™s last round of financing valued the company at $100 million. But none of those competing sites, or even all of those sites aggregated, have caused any financial pain yet for The Generations Network. The company is pulling in $150 million or so in yearly revenue and is hugely profitable according to our source.