Ancestry.com, Inc. Closes $33.2 Million Second Round of Funding; Strategic Investors to Strengthen Largest Online Community for Families
OREM, Utah, Aug. 31 /PRNewswire/ -- Ancestry.com, Inc., the premier online resource for connecting
and strengthening families, today announces the completion of a $33.2 million second round of
financing. With the support of investors who not only hold dominant market positions in the Internet and
media industries, but also are renowned for creative and innovative consumer products, Ancestry.com,
Inc. will significantly expand and strengthen its online offering.
Led by Tango of Boulder, Colo., the oversubscribed second round of financing also included investments
from Group Arnault, America Online, Inc. (NYSE: AOL - news), Compaq Computer Corporation (NYSE:
CPQ - news), Pivotal Asset Management LLC and Amerindo Investment Advisors, Inc. First round
investor @Ventures, the affiliated venture capital arm of CMGI (Nasdaq: CMGI - news), also participated
in the second round to maintain its significant equity interest. Further financial details of the investments
were not disclosed.
Business alliances with key investors, including America Online and Compaq, have been successfully
negotiated. The alliances with these proven market leaders will enable Ancestry.com, Inc. to continue
providing the most innovative online services in the family-oriented space.
''Ancestry.com, Inc. is devoted to developing ongoing partnerships to accelerate our company's growth
and to provide the largest and most active online community for families,'' said Curt Allen, president and
CEO of Ancestry.com, Inc. ''I am confident that these new, powerful alliances will help us provide
unparalleled solutions for today's busy families.''
Ancestry.com, Inc. develops successful, family-oriented Internet properties, including Ancestry.com and
MyFamily.com. The Ancestry.com site is the premier source for genealogical data on the Web, offering
more than 1,700 databases containing over 276 million records. The site is also one of the most
successful subscription sites online, with over 90,000 paying subscribers. MyFamily.com, provider of
free, private family Web sites, is one of the fastest growing communities online, growing to more than
1.5 million members in less than eight months.
''Ancestry.com, Inc. offers a unique, all-in-one online solution for families to communicate, strengthen
family ties and maintain long-lasting relationships,'' said Jerome Contro of Tango. ''This ties in strongly
with Tango's commitment to helping families leverage the power of technology to enrich their lives.''
''It has been a pleasure to be a part of the phenomenal 'genetic' growth of Ancestry.com's traffic and the
development of the outstanding MyFamily.com features,'' added Peter Mills, Managing Partner,
@Ventures. ''It is now the most robust and dynamic family community site on the Web and, as the
clear category leader, Ancestry.com, Inc. will continue to bring people together on the Web in engaging
and rewarding ways.''
To date, Ancestry.com, Inc. has raised $45.5 million in venture financing. Three investors participated in
the company's December 1998 appropriation: @Ventures, the affiliated venture capital arm of CMGI,
Intel Corporation and Wasatch Venture Fund, Inc.
About Ancestry.com, Inc.
Ancestry.com, Inc. is dedicated to creating Internet properties that enable family members to connect
with each other and strengthen family bonds. Founded on a 15-year heritage in family-history publishing,
including Ancestry magazine and ''The Source'' (the definitive guidebook to genealogy), Ancestry.com,
Inc. brings together deep resources and interactive tools that empower family unity. The company's
Internet properties (Ancestry.com, MyFamily.com and FamilyHistory.com), which can function
independently, work together to form the only family service of its kind. For more information, visit
ancestry.com.
SOURCE: Ancestry.com, Inc.
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