Finance
Blackstone weighs options for Ancestry.com, including sale or IPO, sources say
Published by Global Banking and Finance Review
Posted on September 25, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 25, 2025
2 min readLast updated: January 21, 2026
Blackstone is considering an IPO or sale for Ancestry.com, potentially valuing the company at $10 billion amid a recovering IPO market.
By Echo Wang
NEW YORK (Reuters) -Blackstone is weighing strategic options, including an initial public offering or a sale, for Ancestry.com, the hugely popular platform that helps users trace their genealogical roots, people familiar with the matter said.
The buyout firm invited banks to pitch for an IPO of the Lehi, Utah-based company, the people said, asking not to be identified because the information is not public. Requests for proposals were submitted by the banks earlier this week, they added.
A public listing could value the company at about $10 billion, the people said, cautioning that discussions are at an early stage and details are subject to change. The sources also said that Blackstone could consider selling the asset, but no additional plans could be learned about this option.
Deliberations are ongoing and Blackstone could decide to hold onto the asset for longer, the people said.
Representatives from Blackstone and Ancestry.com declined to comment.
The deliberations come as the U.S. IPO market has rebounded since early September after a slow second quarter. First-time share sales this year have already surpassed those in 2024, according to LSEG data.
Ancestry.com generates more than $1 billion in annual revenue and has over 3 million paying subscribers, according to its website. The company makes money primarily from subscriptions to its historical records and family trees, as well as sales of DNA testing kits.
Blackstone acquired the company in 2020 for $4.7 billion from a group of private equity firms, while Singapore’s sovereign wealth fund GIC retained a minority stake.
Founded in 1996 as Ancestry Publishing, the company has changed hands several times. In 2016, Silver Lake Partners and GIC bought minority stakes at a $2.6 billion enterprise value. In 2012, Permira, Spectrum Equity and Ancestry management took the company private in a $1.6 billion deal.
(Reporting by Echo Wang in New York; additional reporting by Abigail Summerville; Editing by Anna Driver)
Blackstone is weighing strategic options, including an initial public offering or a sale for Ancestry.com.
A public listing could value Ancestry.com at about $10 billion, although discussions are still in early stages.
Ancestry.com generates more than $1 billion in annual revenue and has over 3 million paying subscribers.
Blackstone acquired Ancestry.com in 2020 for $4.7 billion from a group of private equity firms.
The U.S. IPO market has rebounded since early September after a slow second quarter, with first-time share sales this year surpassing those in 2024.
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