$300M Buys Majority Stake in The Generations Network
The Internet's most popular family history Web site Ancestry.com and its parent company The Generations Network will sell a $300 million majority interest to Spectrum Equity Investors, a private equity firm $4 billion in invested capital, the companies announced yesterday. The Generations Network is a privately held company that includes a group of properties which combined has more than 900,000 paying subscribers, and last year the company had revenues of roughly $150 million. The properties attract 8.2 million unique visitors each month according to August, 2007 figures from Web usage tracking company comScore.
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