Summarized by Kent Larsen
Ancestry.com yields $33.2 million in financing
CNET News (Reuters) 31Aug99 L4
OREM, UTAH -- Genealogical data company Ancestry.com completed a
$33.2 million second round of financing Monday, funds that Ancestry
will use to strengthen its online services. The company has 1,700
searchable databases available on the World Wide Web, providing
information on 276 million individuals to 90,000 subscribers.
Orem-based Ancestry.com is an important player in the market for
genealogy-related services and products. It was also founded by LDS
Church members and has a mainly LDS workforce.
The investments by America Online, Compaq Computer, Group Arnault,
Pivotal Asset Management, and Amerindo Investment Advisors make a
total of $45.5 million in venture financing that Ancestry.com has
Ancestry.com also recently signed a deal with Compaq, making Compaq
the premier vendor of PC's on Ancestry.com's popular MyFamily.com
service. MyFamily.com hosts private family Web sites for users.