21-07-2017, 03:00 PM
Ancestry.com Is Close to Hiring Banks for 2017 IPO
By Kiel Porter and Alex Sherman
July 20, 2017, 7:14 AM GMT+8 Updated on July 21, 2017, 3:19 AM GMT+8
Genealogy website Ancestry.com is close to hiring banks to lead an initial public offering of the company this year, people with knowledge of the matter said.
The private equity-backed company is working with Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. as it plans for the IPO, which could give Ancestry.com a market value of more than $3 billion, said the people, who asked not to be identified because the information is private.
Ancestry.com, which started life in 1983 as a family history and genealogy publisher, was taken private in 2012 by Permira and Spectrum Equity in a deal valued at about $1.6 billion. Silver Lake and sovereign wealth fund Government of Singapore Investment Corp. took stakes in the company last year in a deal that gave it an enterprise value of about $2.6 billion.
The company is generating more than $1 billion in revenue and has a growth rate of about 25 percent, one of the people said. It’s grown rapidly through new ventures such as its DNA testing kits, the person said.
More details in https://www.bloomberg.com/news/articles/...r-2017-ipo
By Kiel Porter and Alex Sherman
July 20, 2017, 7:14 AM GMT+8 Updated on July 21, 2017, 3:19 AM GMT+8
Genealogy website Ancestry.com is close to hiring banks to lead an initial public offering of the company this year, people with knowledge of the matter said.
The private equity-backed company is working with Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. as it plans for the IPO, which could give Ancestry.com a market value of more than $3 billion, said the people, who asked not to be identified because the information is private.
Ancestry.com, which started life in 1983 as a family history and genealogy publisher, was taken private in 2012 by Permira and Spectrum Equity in a deal valued at about $1.6 billion. Silver Lake and sovereign wealth fund Government of Singapore Investment Corp. took stakes in the company last year in a deal that gave it an enterprise value of about $2.6 billion.
The company is generating more than $1 billion in revenue and has a growth rate of about 25 percent, one of the people said. It’s grown rapidly through new ventures such as its DNA testing kits, the person said.
More details in https://www.bloomberg.com/news/articles/...r-2017-ipo