Fox Business on the Success Story focused on the man behind Ancestry.Com LLC (NASDAQ:ACOM), a company that provides online family history and generates revenue from subscriptions from people seeking to discover their family mapping.
The company has grown tremendously, but challenges have also not been lacking for the CEO Tim Sullivan and his team. Starting from the world of finance, Mr. Sullivan shared his first jump into the world of Internet and what it has been running a family history mapping business that went public at the height of the financial recession in 2009 and later sold to a private equity firm.
In sharing his own story and the success of Ancestry.Com LLC (NASDAQ:ACOM), Mr. Sullivan said: “Originally I jumped ever into the world of internet in 1999 when I realized we were just in the midst of an incredible revolution that was going to change everything.”
He said he joined the business about nine years ago. However, he also said he knew a little bit about the business before he joined it.
As to why he found Ancestry.Com LLC (NASDAQ:ACOM) an interesting company he mentioned: “I was fascinated by the opportunity to take this service and try and create something that would be relevant and interesting to a real broad mainstream market.”
He said then challenge in taking the business public was that many people could not understand at that time family business could become a mainstream service.
Although Mr. Sullivan took Ancestry.Com public in 2009 at the time of the great recession, he said the events at the time did not impact the business because for one it is not a company that is tracked by the economy. Because the business is insulated from economic impact that affects other businesses, Mr. Sullivan said they remained a profitable, growing subscription business.
Ancestry.Com LLC (NASDAQ:ACOM) was acquired by a private-equity firm in 2012 but Mr. Sullivan said that did not affected how they do business. “It has always been about developing a vision for where went want to take the business, he added.
He likes to under promise and over deliver whenever is possible.
Disclosure: none
