The Generations Network, formerly MyFamily.com, announced today a $300 million acquisition by Spectrum Equity, a $4 billion private equity fund with offices in Menlo Park and Boston. It is expected that the current management team will continue to lead the company, which is headquartered in Provo, Utah.
The company has an interesting history. Wikipedia’s article on The Generations Network gets most of the facts right. Ancestry, a print publishing company, was founded in 1983 by John Sittner. John sold Ancestry to my CD ROM publishing company (Infobases, Inc.) in 1997 and in July 1997 Dan Taggart and I spun Ancestry out, and left Infobases to run Ancestry.com full time. By July 1998 we were cash-flow positive with more than 20,000 subscribers to our $49.95 per year content subscription service. (more…)
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