October 3, 2012
PROVO, Utah, Oct. 3, 2012 (GLOBE NEWSWIRE) -- 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 photosstored 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.
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.
The Ancestry.com, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13617
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. For more
information, visit 1000memories.com.
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 economie conditions; the loss of key employees; the adverse impact of competitors' actions; pricing and gross margin pressures; inability to contrai costs and expenses; and significant litigation. lnformation 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 far 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 far any reason, whether as a result of new information, future events, or otherwise.
CONTACT: Investors: Aaron Felix (801) 705 - 7942
afelix®ancest ry.com
Media:
Heather Erickson (801) 705 - 7104 herickson®an cestry.com
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