Ancestry.com to Go Public in $75 Million IPO

Aug 07, 2009


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Genealogy research site Ancestry.com has filed for an IPO and plans to raise about $75 million in the offering, according to an SEC filing. It plans to list on Nasdaq or NYSE under the symbol ACOM. The company has taken several steps toward the IPO in the past year, including hiring CFO Howard Hochhauser, late of Martha Stewart Living Omnimedia, according to www.thealarmclock.com, and changing the company's name from The Generations Network in July.

Ancestry.com sold a majority stake in 2007 to previous investor Spectrum Equity Investors for about $300 million as part of a recap; other investors included Sorenson Media, CMGI@Ventures, and EsNet Group. Prior to that Ancestry.com had raised about $95 million in three rounds of fundraising. The new money raised through IPO will be used to repay a portion of Ancestry.com's credit facility, working capital, and for mergers and acquisitions, the company says.

(www.ancestry.com)