MyHeritage Cuts 15% of Workforce Amid Market Challenges
Translated & summarized from Ynet by baba
MyHeritage is cutting 15% of its global workforce, including several dozen employees in Israel, amid market challenges. Founded in 2003, the company offers family history and DNA testing services and was acquired in 2021 by Francisco Partners. The private equity firm is reportedly seeking to sell MyHeritage at a valuation near $1 billion.
The story in 6 lines · by baba
- MyHeritage is laying off 15% of its 500 employees worldwide, including several dozen in Israel.
- The company was founded in 2003 by Gilad Japhet, who remains CEO.
- MyHeritage offers family history tools and home DNA testing kits since 2016.
- It was acquired in 2021 by Francisco Partners for about $600 million.
- Francisco Partners is exploring selling MyHeritage with a valuation near $1 billion.
- The company remains stable due to subscriptions, acquisitions, and new genetic analysis features.
MyHeritage, a veteran company specializing in family history technology and DNA testing services, is laying off 15% of its approximately 500 employees worldwide. The layoffs began on Wednesday, with the company informing affected staff, including "several dozen" employees in Israel, according to Marketing VP Aaron Godfrey. Founded in 2003 by Gilad Japhet, who remains CEO, MyHeritage initially focused on online tools for building family trees and scanning historical records, operating primarily on subscription models. It has grown to be one of the top three global companies in its field.
Since 2016, MyHeritage has also sold home DNA kits that reveal ethnic origins and identify unknown relatives through genetic matches. The company has recently added popular features such as animating old photos and creating historical avatars. It maintains a vast database of billions of historical records, including birth, marriage, census, and historical press documents, accessible to subscribers.
Privately held, MyHeritage does not publicly release full financial reports, but it was acquired in 2021 by American private equity firm Francisco Partners for about $600 million. Bloomberg and other financial media reported in late 2025 and early 2026 that Francisco Partners is exploring a sale of MyHeritage, targeting a valuation near $1 billion. Despite challenges in the consumer DNA testing market, MyHeritage has remained relatively stable due to its strong subscription model, strategic acquisitions of local genealogy companies abroad, and new services based on press archives and advanced genetic analysis features. The company has not yet issued an official statement regarding the layoffs.
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