Earnings
Ancestry.com Raises $100 Million In IPO
Underwriters for the deal include Morgan Stanley, Bank of America-Merrill Lynch, BMO Capital Markets Corp., Jefferies & Co. and Piper Jaffray & Co. It will trade under the symbol "ACOM" on the Nasdaq Global Market starting Thursday.
Founded in 1983 as Ancestry Inc., the company started out publishing books to help genealogy buffs research family lineage and moved to Web-based documents and tools. With more than 600 employees, Ancestry.com was spun off from The Generations Network, a group of businesses offering other Web tools, DNA testing services and Ancestry magazine. The president, CEO and director of the company, Timothy Sullivan, was president and CEO of Match.com, a dating site run by Internet company IAC/InterActiveCorp., before joining Ancestry in 2005.TheStreet Premium Services
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