This isn’t new news–it happened on November 1st. Investors Business Daily published a nice article on MyFamily.com, and revealed that according to CEO Tim Sullivan, 2006 revenues will hit $150 million with an EBIDTA of $28 million. After being under the radar for several years, it’s nice to see MyFamily getting some decent media attention recently. I think the CEO is doing a good job at telling the story.
Here’s another impressive excerpt from the article:
Founded in 1997, MyFamily.com has grown organically and through acquisitions. It cornered the market by acquiring Genealogy.com in 2003 and RootsWeb.com in 2000.
Of the top 10 genealogy Web sites, properties owned by MyFamily had 74% of the audience in September. More than 8.4 million people in the U.S. surfed genealogy Web sites that month, according to comScore Networks.
The genealogy industry is in need of a serious #2 player in the space. While I co-founded Ancestry.com/MyFamily.com with Dan Taggart and our small launched the first site back in June 1996, the original founding team hasn’t been involved at MyFamily.com for many years now.
Several of us have gotten back together to work on an international genealogy company called WorldVitalRecords.com (we may eventually change the name to something else, but it’s a domain that works for now). We have partnered with Everton Publishers in Logan, Small Town Papers, and are in discussions with many other partners.
It is fun to be back in the genealogy business. Like Ancestry.com, World Vital Records publishes new databases to our web site every business day. Our email database is approaching 100,000 names and we are going to be launching some significant user generated content features soon.
It may take some time to become the #2 genealogy site on the web; but we think we have the team that can do it. And we think the industry is large enough so that there is room for us, and many others.
Only 5% of the world population is in the United States; so there will likely be dozens of successful genealogy companies around the world. We certainly hope to be one of them.
Contact me if you are interested in getting involved with WorldVitalRecords. We expect to grow next year and we are interested in genealogical expertise as well as international marketing experience.
(Note: MyFamily.com has asked me to mention when I blog about the company that I am no longer involved in the company, as a director, officer or employee. I am a small stakeholder in the company.)