Tags: godaddy | ipo | 100 million

GoDaddy IPO Filed for $100M; Founder Steps Down as Executive Chairman

Image: GoDaddy IPO Filed for $100M; Founder Steps Down as Executive Chairman

By    |   Tuesday, 10 Jun 2014 10:40 AM

GoDaddy filed a prospectus for an initial public offering (IPO) on Monday, paving the way for its offering of $100 million of common stock.

Known for its racy and sometimes controversial TV commercials — one of which features race car driver Danica Patrick — GoDaddy has more than 12 million customers who use its domain name registration and web hosting services, according to Reuters. It joins a number of large, highly-visible tech firms to go public in recent months.

Based in Scottsdale, Arizona, the company was founded in 1997 and acquired in 2011 by KKR & Co., Silver Lake Partners, and Technology Crossover Ventures for $2.25 billion. GoDaddy founder Bob Parsons, 63, stepped down as CEO in 2011 and, with the IPO announcement, said he was resigning as executive chairman of the board, but will remain as a member.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll
 
CNN Money reported that the company lost $279 million in 2012, and $200 million in 2013. It also lost $51 million in the first quarter of 2014. The company continues to see a healthy expansion of its customer base, however, gaining 13 percent in that metric in 2013.

In terms of registering domain names for websites, GoDaddy is an industry giant, managing 57 million domains, according to Bloomberg News.

The company's main competitor, Endurance International Group Holdings Inc., went public in October. Since then, its shares are up 14 percent.

If the GoDaddy IPO conjures feeling of déjà vu in investors, that's likely because the company filed for an IPO in 2006, but backed out when the pricing was off.




Urgent: Assess Your Heart Attack Risk in Minutes. Click Here.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
GoDaddy filed a prospectus for an initial public offering (IPO) on Monday, paving the way for its offering of $100 million of common stock.
godaddy, ipo, 100 million
285
2014-40-10
Tuesday, 10 Jun 2014 10:40 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved