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hmmmmmmmmmm
yes, does look as though it has been bought out, and the reason is not hard to see when you look at the final little bit
PROVO, Utah, Oct. 17 /PRNewswire/ -- The Generations Network, Inc., today announced that Spectrum Equity Investors will lead an investment of $300 million to purchase a majority interest in the company. Spectrum, .......has been a shareholder in The Generations Network since 2003. ...... The acquisition is subject to customary regulatory and closing conditions and is expected to close in 2007.
The Generations Network's portfolio of sites and products includes Ancestry.com and seven international Ancestry sites, myfamily.com, Rootsweb.com, Genealogy.com, Family Tree Maker® and Ancestry Magazine. .......
................ The Generations Network properties have more than 900,000 paying subscribers and receive 8.2 million worldwide unique visitors per month (© comScore Media Metrix, August 2007). In the last 18 months, the company has solidified its position as one of the largest and most profitable subscription businesses online with success in several areas ................
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One thing I ahve often wondered about ancestry.com is whether there is much linkage with the Mormon church, owners of www.familysearch.org??
The Mormons family search is based in Salt Lake City, Utah
Ancestry is based in Provo, Utah
Provo is only about 35 miles south of Salt Lake City. In 2000 approximately 88% of the population of Provo were members of the lDS church (ie, Mormon).
Utah was mainly settled by the Mormons, and I believe they are still the largest percentage of the population.
I found this in a Wikipedia entry on the web:-
The Generations Network is an Internet company based in Provo, Utah and the largest for-profit genealogy company in the world.[3] They run a growing network of genealogy and family-related websites.
and also:-
There are some who disapprove of the policies and business practices of The Generations Network and the sites it operates. ......... Ancestry.com and affiliates sell perpetual subscriptions that only end when they are cancelled, sometimes allowing them to collect from long deceased subscribers.
Because the company is based in Utah, some mistakenly believe that it is run by The Church of Jesus Christ of Latter-day Saints (or "Mormons"). However, according to the company's Public Relations Senior Manager, Peggy Hayes (as of January 2006), the company is privately held and the LDS Church has no stake in it.[citation needed]"
my question answered ........ or is it???????
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Bought by Spectrum Equity Investors.
Doesn't sound like a change of name to me.
Maybe I am being pessamistic(sp?) / paranoid.
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It sounds to me as if the parent company is just changing it's name. I don't think they have been taken over. At least that's the way I read it.
Kath. x
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Google: generations network. Then go to press release.
Sorry if this the the wrong board. Saw this on FTF
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