GoDaddy is preparing to go public
GoDaddy, the popular domain name registration and hosting service, is preparing to go public. GoDaddy has over 12 million customers worldwide. GoDaddy’s shares may start trading in the second half of the year. GoDaddy launched 17 years ago and gained attention for scandalous commercials during the Super Bowl.
One of GoDaddy’s competitors called Endurance International Group Holdings went public in October and its shares are up 18%. KKR Co., Silver Lake Partners, and Technology Crossover Ventures acquired GoDaddy in 2011 for $2.25 billion. Likely GoDaddy will be valued higher than the acquisition amount when going public. Revenues for the domain registration company are expected to grow by a “high-single-digit percentage rate” in 2014, reports The Wall Street Journal.
Profits are expected to grow at a lower rate because of higher expenses. GoDaddy has been launching several new products and expanded overseas. GoDaddy now manages around 57 million domain names. GoDaddy was founded by Bob Parsons in 1997 and stepped down as the head of the company in 2012.
Blake Irving became CEO of GoDaddy in 2012 and the company moved away from its scandalous ads. This year’s GoDaddy Super Bowl ad featured a woman quitting her job using a puppet and bodybuilders running down the street to check out a spray-tanning salon.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry