When even financial journalists can’t do numbers

Investors pump $2.6 billion into Ancestry.com

Err, no, really, no:

Provo-based Ancestry.com said Friday that two investment firms, Silver Lake and GIC, have invested $2.6 billion into the family-history company.

Just, no.

GIC Pte, Singapore’s sovereign wealth fund, and technology investor Silver Lake Management LLC will buy into Ancestry.com LLC., the U.S. genealogy company said.
The investment values Provo Utah-based Ancestry at about $2.6 billion, it said in a press release Friday.

Yes, that’s better.

2 thoughts on “When even financial journalists can’t do numbers”

  1. I know nothing about ancestry.com, but it does seem likely to find competitors without a specific advantage such as owning the data.
    A “me too” site could be up and running in weeks. No doubt Branson is mulling Virgin-ancestry.com as we speak.

  2. Bif

    Network effects.

    Suppose it turns out someone else has already sorted out your great-great-grandad’s part of the family tree for you, because he was a distant relative of theirs too.

    Saves you hours of work (though double checking what they did will take time) and gives you clues where to look next.

    Ergo, makes sense to be using the same site that other people are.

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