PROVO, Utah– Provo-based company Ancestry.com got a billion-dollar investment from Silver Lake and GIC, which suggests more growth on top of the company’s 2.2 million subscribers.
The company went from a $1.6 billion value to a $2.6 billion.
Ancestrys CEO Tim Sullivan plans to strengthen the company with its new financier Silver Lake. GIC has been a financier.
Our real objective moving forward is to continue to make household history more easily accessible for more people, Sullivan said. “Silver Lake is the worlds leading innovation financier. And Ancestry has actually grown so rapidly and so large that we actually value having a world class investment partner.”
Sullivan thinks Silver Lake will help the businessbusiness because of the financiers experience at scaling big companies.
“Origins is at an extremely fascinating point of advancement,” he stated. “We are going from a mid-size business to have the potential to become an extremely biga large enterprise.”
Silver Lake works to helpto assist grow business like Skype, GoDaddy and Dell.
Sullivan stated the long term views from Silver Lake investors will charge Ancestrys future.
Its sort of exciting to take a step back and believeconsider the important things we needhave to do today to be very effective and have a wonderful set of products three or 4 years from now, Sullivan said.
A dad of four, Ken Drake, is looking forward to those brand-new tools and items Ancestry is talking about.
Drake has actually been a big fan of the genealogy site and DNA screening for the last 3 years. When he was 49 years of ages he took its DNA test and a year later found some incredible results.
I was adopted and I have actually been wonderingquestioning my birth moms and dads however never ever was determined about finding them due to the fact that I am OK with who I am, Drake said.
But then as he was sitting in an airport one day awaiting an air travel, he received a message that stated:
We thinkOur company believe, 99 percent sure, Im your uncle and my sis had an infant boy in L.a on this date. (A date Drake had actually sent through Ancestry)
“So Im sitting in the airport making this connection. And all of this flood of feeling, ideas and feelings was not something I expected. And from there I found out a lot about my household,” Drake stated. My mother had provided me up when she was 17 years of ages and both my parents remained together and had 2 more kids later. So I had a full bro and a complete sis.
From there he established a 3,000-person household tree that dates back thousands is years.
Drakes story is comparable to countless others who discover long-lost familyrelative and it’s those stories and millions more that make Sullivan wantwish to enhance Ancestry.com and Origins DNA.
Silver Lake is actually going to assist us actually embrace and make the most utilize of the bestthe very best in class practices for operating a complex company, Sullivan said.
Next month, Origins is moving its headquarters from Provo to Lehi.