Tuesday, August 4, 2009
Ancestry.com Files For IPO
Provo, Utah-based Ancestry.com has filed for an IPO, saying in a filing late Monday that it is looking to raise up to $75M in a public offering on either the Nasdaq Global Select Market or the New York Stock Exchange. The IPO is being underwritten by Morgan Stanley, BofA Merrill Lynch, Jeffries & Company, Piper Jaffray, and BMO Capital Markets. According to the filing, Ancestry.com earned 2.3M on revenues of $197.5M in 2008, and had 913,683 subscribers to its online services at the end of its fiscal 2008 year. The firm's major backers are Spectrum Equity Investors, which owns 67% of the firm, Crosslink Capital, W Capital Partners, and Sorenson Media. Ancestry renamed itself from The Generations Network in early July.