Ancestry.com on IPO Deck (ACOM) – 24/7 Wall St.: "The company first operated as The Generations Network, Inc. merged with Generations Holding, Inc. in connection with an investment by Spectrum Equity Investors V, L.P. and certain of its affiliates. this has the company listed as a predecessor and successor entity.
The total purchase price for the Spectrum investment was $354.8 million.
The total purchase price consisted of $249.1 million of cash, $95.7 million in value of previously owned stock of predecessor, $8.2 million of stock option fair value assumed by the successor and $1.8 million of transaction related expenses. Spectrum and certain of its affiliates currently hold approximately 67% of the outstanding shares of our common stock.
Revenues at Ancestry.com have increased from $122.6 million in 2004 to $197.6 million in 2008.
The books are consolidated now to reflect subscription revenues $133.616 million in the first 9-months of 2008 and $152.506 million in the first 9-months of 2009. Total revenues for the same periods were $145.158 million and $164.793 million in 2009. And for the same periods net income was listed as $3.5 million and $12.224 million in 2009.
From what we have seen occur in the subscription business in 2008 to 2009, the question is how much other revenues can be brought in just in case the subscriber revenues start to dry up. While a free service is unlikely to replace the billions of screened images it claims, it might become easier and easier to put off that family tree research project if the economy does not improve."
Sunday, November 8, 2009
Friends Reunited reunited with ITV? • The Register
Friends Reunited reunited with ITV? • The Register: "he Office of Fair Trading has sent the proposed takeover of Friends Reunited by DC Thomson to the Competition Commission.
Dennis the Menace's publisher was to pay £25m for the websites. But it is not Friends Reunited's tiny slice of the social networking pie that worries regulators.
As part of the deal, DC Thomson subsidiary Brightsolid gets control of genealogy site Genes Reunited. The company already runs other genealogy sites including FindMyPast.com and the 1911 census.
The online genealogy and family history market is huge, and the OFT is worried that the deal gives Brightsolid too large a share of it.
The OFT said its investigation found all the merging firms currently compete with market leader Ancestry.com.
Amelia Fletcher, the OFT's Senior Director of Mergers, said: 'People's growing interest in researching their family tree has made this an increasingly important market.
'The proposed acquisition would see the three main providers of online genealogy services reduced to two, and we are concerned this could lead to a reduction in choice or service for consumers. We are therefore referring the merger to the Competition Commission for a fuller inquiry.'
The Competition Commission should report back by 16 April 2010.
Friends Reunited was one of the poster children for bubble 1.0. It ticked all the boxes for the mainstream media having been started by a couple in their spare bedroom in 2000 and adding members very fast before selling out to big media. But tbhe company struggled with various business models and interest faded almost as fast it grew. The site lost its way to other sites like Bebo, MySpace and much later Facebook. ®"
ITV, Mormons and Family Trees - The Source - WSJ: "By Robin Moroney
What’s worse than selling a business at a £145 million loss? ITV’s answer: Not being allowed to sell a business at a £145 million loss.
The Office of Fair Trading has referred the planned £25 million sale of Friends Reunited to DC Thomson’s Brightsolid to the Competition Commission. The OFT’s concern relates to genealogy — Friends Reunited’s value lies mostly in Genes Reunited, which allows subscribers to explore the branches of their family trees online.
Since Brightsolid runs findmypast.com and 1911Census.com, the deal would combine two of the top three genealogy Web sites in Britain. That’s a problem, the OFT tells the Times, because market leaders in online genealogy enjoy surprisingly high barriers of entry. A lot of historical records are in the public domain, but building a digital database out of them takes quite a bit of work, giving incumbents a big edge over entrants."
ITV, Mormons and Family Trees - The Source - WSJ:
"By Robin Moroney
What’s worse than selling a business at a £145 million loss? ITV’s answer: Not being allowed to sell a business at a £145 million loss. The Office of Fair Trading has referred the planned £25 million sale of Friends Reunited to DC Thomson’s Brightsolid to the Competition Commission. The OFT’s concern relates to genealogy — Friends Reunited’s value lies mostly in Genes Reunited, which allows subscribers to explore the branches of their family trees online.
Since Brightsolid runs findmypast.com and 1911Census.com, the deal would combine two of the top three genealogy Web sites in Britain. That’s a problem, the OFT tells the Times, because market leaders in online genealogy enjoy surprisingly high barriers of entry. A lot of historical records are in the public domain, but building a digital database out of them takes quite a bit of work, giving incumbents a big edge over entrants."
Dennis the Menace's publisher was to pay £25m for the websites. But it is not Friends Reunited's tiny slice of the social networking pie that worries regulators.
As part of the deal, DC Thomson subsidiary Brightsolid gets control of genealogy site Genes Reunited. The company already runs other genealogy sites including FindMyPast.com and the 1911 census.
The online genealogy and family history market is huge, and the OFT is worried that the deal gives Brightsolid too large a share of it.
The OFT said its investigation found all the merging firms currently compete with market leader Ancestry.com.
Amelia Fletcher, the OFT's Senior Director of Mergers, said: 'People's growing interest in researching their family tree has made this an increasingly important market.
'The proposed acquisition would see the three main providers of online genealogy services reduced to two, and we are concerned this could lead to a reduction in choice or service for consumers. We are therefore referring the merger to the Competition Commission for a fuller inquiry.'
The Competition Commission should report back by 16 April 2010.
Friends Reunited was one of the poster children for bubble 1.0. It ticked all the boxes for the mainstream media having been started by a couple in their spare bedroom in 2000 and adding members very fast before selling out to big media. But tbhe company struggled with various business models and interest faded almost as fast it grew. The site lost its way to other sites like Bebo, MySpace and much later Facebook. ®"
ITV, Mormons and Family Trees - The Source - WSJ: "By Robin Moroney
What’s worse than selling a business at a £145 million loss? ITV’s answer: Not being allowed to sell a business at a £145 million loss.
The Office of Fair Trading has referred the planned £25 million sale of Friends Reunited to DC Thomson’s Brightsolid to the Competition Commission. The OFT’s concern relates to genealogy — Friends Reunited’s value lies mostly in Genes Reunited, which allows subscribers to explore the branches of their family trees online.
Since Brightsolid runs findmypast.com and 1911Census.com, the deal would combine two of the top three genealogy Web sites in Britain. That’s a problem, the OFT tells the Times, because market leaders in online genealogy enjoy surprisingly high barriers of entry. A lot of historical records are in the public domain, but building a digital database out of them takes quite a bit of work, giving incumbents a big edge over entrants."
ITV, Mormons and Family Trees - The Source - WSJ:
"By Robin Moroney
What’s worse than selling a business at a £145 million loss? ITV’s answer: Not being allowed to sell a business at a £145 million loss. The Office of Fair Trading has referred the planned £25 million sale of Friends Reunited to DC Thomson’s Brightsolid to the Competition Commission. The OFT’s concern relates to genealogy — Friends Reunited’s value lies mostly in Genes Reunited, which allows subscribers to explore the branches of their family trees online.
Since Brightsolid runs findmypast.com and 1911Census.com, the deal would combine two of the top three genealogy Web sites in Britain. That’s a problem, the OFT tells the Times, because market leaders in online genealogy enjoy surprisingly high barriers of entry. A lot of historical records are in the public domain, but building a digital database out of them takes quite a bit of work, giving incumbents a big edge over entrants."
Ancestry.com gains in 1st day of trading
Business & Technology | Ancestry.com gains in 1st day of trading | Seattle Times Newspaper: "NEW YORK —
Shares of Ancestry.com climbed in their first day of trading Thursday after the genealogy Web site's initial public offering priced in the middle of the expected range.
The stock jumped $1.43, or 10.6 percent, to $14.93 in afternoon trading. It earlier traded as high as $16.32.
The world's largest online resource for birth certificates and marriage records priced 7.4 million shares at $13.50 each late Wednesday - the midpoint of its expected range of $12.50 to $14.50 - to raise $100 million in its initial public offering.
Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to nearly $115 million. The stock trades on the Nasdaq market under the ticker symbol 'ACOM.'
The Provo, Utah-based company, which has more than 1 million paying subscribers, plans to use net proceeds of about $48.4 million for general corporate purposes and to repay debt. The company said it may also use a portion to expand through acquisitions or investments in technologies.
Founded in 1983 as Ancestry Inc., the company started out publishing books to help genealogy buffs research family lineage and moved to Web-based documents and tools. With more than 600 employees, Ancestry.com was spun off from The Generations Network, a group of businesses offering other Web tools, DNA testing services and Ancestry magazine."
Ancestry.com includes myfamily.com, a Web site based in downtown Bellevue. The site, which launched in December 1998, allows people to create a family or group Web site quickly.
Shares of Ancestry.com climbed in their first day of trading Thursday after the genealogy Web site's initial public offering priced in the middle of the expected range.
The stock jumped $1.43, or 10.6 percent, to $14.93 in afternoon trading. It earlier traded as high as $16.32.
The world's largest online resource for birth certificates and marriage records priced 7.4 million shares at $13.50 each late Wednesday - the midpoint of its expected range of $12.50 to $14.50 - to raise $100 million in its initial public offering.
Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to nearly $115 million. The stock trades on the Nasdaq market under the ticker symbol 'ACOM.'
The Provo, Utah-based company, which has more than 1 million paying subscribers, plans to use net proceeds of about $48.4 million for general corporate purposes and to repay debt. The company said it may also use a portion to expand through acquisitions or investments in technologies.
Founded in 1983 as Ancestry Inc., the company started out publishing books to help genealogy buffs research family lineage and moved to Web-based documents and tools. With more than 600 employees, Ancestry.com was spun off from The Generations Network, a group of businesses offering other Web tools, DNA testing services and Ancestry magazine."
Ancestry.com includes myfamily.com, a Web site based in downtown Bellevue. The site, which launched in December 1998, allows people to create a family or group Web site quickly.
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