This Company May Have Cracked The Code On Social Payments

money smell love

Photo: Team Tanenbaum via Flickr

The big genealogy site MyHeritage may have cracked the code on social payments, a report in AllThingsD suggests.Believe it or not, genealogy is a big business online. has a market cap around $2 billion and MyHeritage is huge. 

The site makes money from advertising and premium subscriptions and it’s found a clever way to get more people to pay for subscriptions: encourage your friends to chip in. 

You can create a “Family Goal” to encourage other family members to subscribe. 

This has some precedent, in different ways, in online fundraising campaigns, which encourage donors to reach a goal, and in group buying. Obviously it makes sense in a genealogy site, where a family may be involved in matching their heritage, but it can also make sense for any site that is used by a group (for example a group publishing platform). 

It’s a clever mechanic, and it will be interesting to see whether it works for MyHeritage and whether other social sites implement something similar. 

Now Meet Saul Klein, The Top European VC Who Is A Big MyHeritage Investor →

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at