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Thread: New Investments in Ancestry.com to Boost DNA Business

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    New Investments in Ancestry.com to Boost DNA Business

    https://www.genomeweb.com/business-n...t-dna-business

    NEW YORK (GenomeWeb) New investments in online family history company Ancestry.com should fuel further expansion of its growing AncestryDNA consumer genomics business.

    Ancestry.com announced the investments, the amount of which was undisclosed, last week. Under the terms of the deal, Menlo Park, California-based Silver Lake and Singaporean technology investment firm GIC acquired substantial equity stakes in Provo, Utah-based Ancestry.com, bringing the company's total valuation to $2.6 billion, they said.

    ...

    "It's incredible to think that even with all we've accomplished in just four years at AncestryDNA, Silver Lake and GIC are going to help us move even faster," Chahine told GenomeWeb. According to Chahine, AncestryDNA has accomplished "massive advances in science and technology" and has genotyped 1.5 million people since the service launched in May 2012. "We look forward to bringing even more tools for self-discovery to millions across the globe," he said.

    AncestryDNA has strengthened its global outreach lately. In March, the company announced that its autosomal DNA testing service, which relies on Illumina SNP genotyping microarrays, is now available in more than 30 different countries, from Albania to Vatican City. The company last year rolled out AncestryDNA in Australia, Canada, Ireland, New Zealand, and the UK.

    ...

    "While we're really excited about DNA as a standalone profitable proposition, it's also having a meaningful and better-than-anticipated impact on the subscriber business," he said.

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    Of course the DNA testing increases subscriptions, people need tress to join what they call 'DNA circles'. Also they push subscriptions hard on the site, there are adverts all over the place.

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