MyHeritage Cuts About 15% of Workforce in Israel Amid Global Layoffs
Translated & summarized from Globes by baba
MyHeritage has laid off about 15% of its workforce in Israel, impacting dozens of employees. The company, founded in 2003 and headquartered in Or Yehuda, specializes in genealogy and DNA testing. It was acquired by Francisco Partners in 2021 for around $600 million.
The story in 6 lines · by baba
- MyHeritage lays off roughly 15% of its Israeli workforce, totaling dozens of employees.
- The company employs about 500 people across Israel, the US, and Europe.
- Founded in 2003 by Gilad Japhet, MyHeritage focuses on genealogy, historical data, and DNA testing.
- Headquartered in Or Yehuda, it operates globally in dozens of languages with billions of historical records.
- In 2021, Francisco Partners acquired MyHeritage for approximately $600 million.
- During COVID-19, MyHeritage ran a coronavirus testing lab in Israel.
MyHeritage, a genealogy and DNA testing company, has initiated layoffs affecting dozens of employees in Israel, amounting to approximately 15% of its workforce. The company currently employs around 500 people across Israel, the United States, and Europe. Founded in 2003 by CEO Gilad Japhet, MyHeritage started as a platform for building family trees and later expanded into historical research, large historical databases, and DNA testing to identify relatives and genetic origins.
Headquartered in Or Yehuda, Israel, MyHeritage operates in dozens of languages worldwide and has built a database containing billions of historical records, including birth, marriage, immigration, and census documents, alongside extensive family trees. In 2016, the company launched home DNA kits and subsequently expanded into genetic information services. During the COVID-19 pandemic, MyHeritage also operated a laboratory for coronavirus testing in Israel.
In 2021, control of MyHeritage was sold to the American investment firm Francisco Partners in a deal valuing the company at approximately $600 million. The transaction involved venture capital funds such as Summa, Index, and Excel selling their holdings, while many employees exercised stock options accumulated over the years. The recent layoffs reflect ongoing adjustments within the company amid broader market challenges.
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