Ancestry Acquisition & Valuation

Kakao Corp is a technology and platform company engaged in digital services, content, mobility, and financial technology businesses. The company operates through seven reportable segments. The Kakao segment provides advertising and platform-based service offerings. The Kakao Games segment covers game development, publishing, and related services. The Kakao Entertainment segment focuses on entertainment planning and content production, and distribution. Kakao Mobility offers database-based information provision services, while Kakao Pay provides mobile platform-based financial services. Kakao Piccoma operates a platform for webtoon and web-novel supply, and the SM Entertainment segment engages in entertainment planning and content production.

Nook Media is a Barnes & Noble subsidiary focused on e-readers and digital content delivery. Formed in 2012, it produces Nook devices running Android with six-inch E Ink displays for reading, Wi-Fi connectivity, MicroSD slots for storage expansion, and optional user-replaceable batteries. Larger seven-inch and nine-inch color touchscreen variants serve as primary input interfaces. The lineup competes directly with Amazon Kindle, Apple iPad, Google Nexus 7, Kobo, and Sony Reader models. New York-headquartered, Nook Media received equity investments from Microsoft and Pearson to fuel its growth in the e-book market.

NewsBreak is a Mountain View-headquartered app delivering hyper-local news from 10,000 U.S. sources to 40 million users. Founded in 2015 by former Baidu engineers, it achieved unicorn valuation in 2021 with $115 million Series C funding. The platform monetizes through publisher tools and local ad campaigns, expanding to 500 cities.

Doctolib is a Paris-headquartered online booking platform serving 80,000+ practitioners across France, Germany, Italy, and expanding regions. Patients book appointments 24/7 with GPs, dentists, and therapists via app or web. The software manages agendas, teleconsultations, and prescriptions, integrating with French and German health records. Founded in 2013, it handles 100 million annual appointments.

Duolingo Inc is a technology company that develops a mobile learning platform to learn languages and is the top-grossing app in the Education category on both Google Play and the Apple App Store. Its products are powered by sophisticated data analytics and artificial intelligence and delivered with class art, animation, and design to make it easier for learners to stay motivated master new material, and achieve their learning goals. Its solutions include the Duolingo Language Learning App, Super Duolingo, Duolingo English Test: AI-Driven Language Assessment, Duolingo For Schools, Duolingo ABC, and Duolingo Math. It has four predominant sources of revenue; time-based subscriptions, in-app advertising placement by third parties, and the Duolingo English Test, and In-App Purchases.

Kakao Japan is a Tokyo-based subsidiary of Kakao Corp that promotes KakaoTalk messaging app and related services in the Japanese market. It develops localized features for voice calls, stickers, and group chats, competing with Line through integrations with Kakao Pay for remittances and Kakao Music for J-pop streaming. Kakao Japan collaborates with local telecoms like NTT Docomo, expanding user base via manga partnerships and event promotions since its establishment in 2011.

PSG is a Paris-based mobile app developer associated with Paris Saint-Germain Football Club, creating official fan engagement applications like PSG Official and PSG Handball for iOS and Android. These apps deliver live match updates, ticket sales, merchandise access, and exclusive content to 50 million global supporters. Compatible with devices from iPhone 3G onward, PSG's digital tools integrate AR experiences and player stats tracking.

Kunlun Tech Co Ltd engages in the development and distribution of online games in China. It also operates software application stores. The company develops and distributes web games, social games, mobile games, and software applications. Geographically, the company distributes its products in domestic and overseas markets.

Patreon is a San Francisco-headquartered membership platform empowering over two million creators with recurring fan support. Launched in 2013, it hosts podcasts, videos, art, and music, allowing patrons to fund exclusive content through monthly pledges. The service processes billions in payouts annually, serving artists in gaming, writing, and visual media worldwide.

Yello Mobile is a Seoul-based mobile apps platform that aggregates more than 80 startups under its SMATO framework, spanning shopping, media, advertising, travel, and offline-to-online services. Key products include the shopping search app Coocha and digital media platform Pikicast. At its peak, Yello Mobile served roughly 18 million monthly active users in South Korea, about a third of the country's population.

Match Group Inc is a provider of online dating products. The company's portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and more, each built to increase its user's likelihood of connecting with others. The company has four operating segments: Tinder, Hinge, Evergreen and Emerging, and Match Group Asia. The company generates the majority of its revenue from the Tinder segment.

RUM Group Inc focused is to maximize the power of human imagination through an independent technology ecosystem built on privacy, resilience, and an open alternative to Big Tech. Rumble gives human creativity a voice, a video and media platform built for creators and audiences who value free expression. Quake AI is a cloud and AI-infrastructure business, delivering the compute, data-center capacity, and blockchain infrastructure for the agentic era.

Kadokawa Corp is a Japan based publisher and digital content platform provider. It is involved in various businesses such as publishing, film, publishing rights, digital contents, planning, development and operation of network entertainment service, and contents and operation of video- sharing website.

Life360 is the world’s largest family focused social network, with nearly 100 million monthly active users. Security-conscious families use the Life360 app to track each other’s whereabouts and to track the location of their pets and personal belongings. Life360 also offers a suite of additional security features, such as driver safety monitoring, roadside assistance, and emergency dispatching. In the US, the Life360 app regularly ranks in the top 10 most popular social-networking apps and in the top 25 across all apps in terms of daily active users.

Miaopai is a Beijing-headquartered developer of mobile applications for short video sharing and editing. Its core app allows users to record, customize, and upload 15-second clips with filters, music, and effects, integrated with Sina Weibo for wider distribution. Acquired by Yixia Technology in 2015, Miaopai supports live streaming and community challenges. The platform originated from Xuanyixia Technology founded in 2011 by Chan Sheng and Han Kun, establishing a presence in China's social video market.

ofo was a Beijing-based dockless bike-sharing company that let users rent bicycles on demand through a mobile app and IoT-enabled smart locks. It positioned itself as a convenient, affordable, eco-friendly alternative to car travel for urban commuters across China, later expanding internationally. At its peak, ofo had deployed 6.5 million bicycles across 150 cities and served more than 20 million registered users, with as many as 25 million rides per day.

IAC Inc is comprised of businesses, including Angi Inc, Dotdash Meredith, and Care.com, among many others, ranging from early-stage to established businesses. Its Dotdash Meredith segment consists of its Digital and Print businesses. Care.com segment is an online destination for families to connect with caregivers for their children, aging parents, pets, and homes, and for caregivers to connect with families seeking care services. Search segment consists of a collection of websites providing general search services and information, and a Desktop business, which includes business-to-business partnership operations.

Kakao Mobility is a Seoul-headquartered provider of ride-hailing and navigation services under the Kakao T brand. It operates Kakao Taxi for on-demand cabs, Kakao T Bus for real-time transit, Kakao Driver for chauffeur services, and Kakao Navi mapping with traffic avoidance. The company partners with Hyundai for electric vehicle fleets and GS Caltex for parking solutions, serving major cities like Busan and Daegu since its 2017 launch.