Ancestry.com Purchases 1000memories

Online family history resource Ancestry.com has acquired San Francisco-based startup 1000memories. Founded in 2010, 1000memories makes it easy to digitize and share photos and stories from the past. The business was funded by angel and institutional investors, including Greylock Partners, Y Combinator, SV Angel, Founder Collective, and Lowercase Capital.

PRESS RELEASE

Ancestry.com Inc. (Nasdaq:ACOM), the world’s largest online family history resource, announced today it has acquired 1000memories Inc., the San Francisco-based startup that has been focused on helping people digitize and share the estimated 1.7 trillion paper photos stored in their albums, attics, and shoeboxes.

Founded in 2010, 1000memories’ mission has been to help families and friends preserve their personal memories and share those memories with others. 1000memories will provide Ancestry.com members a compelling new way to share their family history discoveries with friends and family as well as scan and add their old photos to their family trees. It also brings an innovative team to the Ancestry.com family to advance Ancestry.com members’ abilities to share the past with others.

The 1000memories acquisition also brings with it the popular ShoeBox app that turns mobile phones into photo scanners providing an easy way to digitize, save, and share photos online or on-the-go. With more than 500,000 downloads since its launch, the ShoeBox app has become a popular way for people to get their old photos out of their shoeboxes and into the cloud.

To mark today’s announcement, 1000memories has launched a new version of ShoeBox for iOS, enabling Ancestry.com members to post photos directly to their forebears’ profiles on Ancestry.com. This is the first step in a broader plan that will see tighter integration of the two services in the coming months.

“1000memories has built a popular way for people to capture and share their memories,” said Eric Shoup, Executive Vice President of Product for Ancestry.com. “The addition of the 1000memories team, their website and the Shoebox mobile app provides a powerful boost to Ancestry.com’s mission of empowering our users to discover, preserve, and share their family histories.”

“We began with the idea that the web provides an amazing vehicle for capturing and sharing the memories we hold most precious,” said Rudy Adler, cofounder of 1000memories. “We’re excited to expand our reach to Ancestry.com’s millions of users and help them share and preserve their family stories in a beautiful way.”

Terms of the transaction were not disclosed. Ancestry.com does not expect the acquisition to have a material impact on its financial guidance as issued in connection with its second quarter earnings release on July 25, 2012. It’s expected that all 1000memories employees will join Ancestry.com effective immediately.

About Ancestry.com

Ancestry.com Inc. (Nasdaq:ACOM) is the world’s largest online family history resource, with more than 2 million paying subscribers. More than 10 billion records have been added to the site in the past 15 years. Ancestry users have created more than 39 million family trees containing approximately 4 billion profiles. In addition to its flagship site, Ancestry.com offers several localized Web sites designed to empower people to discover, preserve and share their family history.

About 1000memories

Founded in 2010 in San Francisco, 1000memories makes it easy to digitize and share photos and stories from the past. 1000memories was funded by leading angel and institutional investors, including Greylock Partners, Y Combinator, SV Angel, Founder Collective, and Lowercase Capital.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond our control. In particular, such risks and uncertainties include difficulties that may be encountered in integrating acquired businesses and retaining customers, and the additional difficulty of integration when continuing the acquired operation; failure to achieve anticipated revenues and operating performance; changes in overall economic conditions; the loss of key employees; the adverse impact of competitors’ actions; pricing and gross margin pressures; inability to control costs and expenses; and significant litigation. Information concerning additional factors that could cause results to differ materially from those projected in the forward-looking statements is contained under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, and in discussions in other of our SEC filings. These forward-looking statements should not be relied upon as representing our views as of any subsequent date and we assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise.

CONTACT: Investors:
Aaron Felix
(801) 705-7942
afelix@ancestry.com

Media:
Heather Erickson
(801) 705-7104
herickson@ancestry.com

Leave a Reply

PEHUB Community

Join the 12505 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget