Global private investment giant Blackstone is considering strategic options for genealogy platform Ancestry.com, including a potential initial public offering or sale, according to a report by Reuters citing unnamed people familiar with the matter.

Blackstone has invited investment banks to pitch for an IPO of the Utah-based company, with proposals submitted earlier this week. A public listing could value Ancestry at around $10bn, although discussions remain at an early stage and may not lead to a transaction. A sale of the business is also under consideration, sources said.

Ancestry, which generates more than $1bn in annual revenue and counts over three million paying subscribers, derives income from subscriptions to its historical records and family tree services, as well as DNA testing kits.

Blackstone acquired Ancestry in 2020 for $4.7bn from a group of private equity firms, while Singapore’s GIC retained a minority stake. The company has changed hands multiple times over the past two decades, with previous ownership by Silver Lake, Permira, Spectrum Equity, and management.

The potential exit comes as the US IPO market shows signs of recovery following a sluggish start to the year, creating opportunities for private equity sponsors to monetise portfolio assets.

Both Blackstone and Ancestry.com declined to comment.

You can read more on this from Private Equity Wire, here.