GoDaddy Shares Rise 34 Percent in Wall Street Debut

Advertisement
By Reuters | Updated: 1 April 2015 20:46 IST
GoDaddy Inc's shares rose as much as 34 percent in their debut on Wednesday, valuing the Web hosting and domain registration company at up to $5.48 billion, including debt.

The company raised $460 million after its initial public offering of 23 million class A shares was priced at $20 per share, above the expected range of $17-$19.

GoDaddy sold all the shares in the offering.

The company's rivals include Endurance International Group Inc and Web.com Group Inc as well as Amazon.com Inc and Google Inc, which have recently entered the domain registration business.

Advertisement

GoDaddy, the sponsor of race car driver Danica Patrick, had about 13 million customers across 37 countries as of December 31.

The company manages about 59 million domains, nearly a fifth of the world's total domains, it said in its IPO filing.

Founded in 1997 by Bob Parsons, GoDaddy is led by Blake Irving, a former chief product officer at Yahoo Inc.

GoDaddy filed for an IPO in 2006 and later withdrew it due to unfavourable market conditions. The company was acquired in 2011 by a private equity consortium led by KKR & Co LP and Silver Lake Partners LP for $2.25 billion, including debt.

Advertisement

Parsons will hold nearly 24 percent of GoDaddy's class A shares and 40 percent of class B shares after the offering.

GoDaddy's revenue has risen about 52 percent in the past three years to about $1.4 billion. Its net loss narrowed to $143.3 million in 2014 from $279 million in 2012.

Advertisement

The Scottsdale, Arizona-based company, known for its controversial ads, attracted the ire of animal rights activist earlier this year with its Super Bowl commercial featuring a website selling puppies.

The stock opened at $26.15 and touched a high of $26.84 on the New York Stock Exchange on Wednesday.

Advertisement

Morgan Stanley, JP Morgan Securities and Citigroup were the lead underwriters for the IPO.

© Thomson Reuters 2015

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: GoDaddy, IPO, Internet, Shares, Wall Street
Advertisement

Related Stories

Popular Mobile Brands
  1. Schneider Brings 90 Years of French Consumer Electronics Heritage to India With a New Audi
  2. From Selfies to Creators: Oppo Executive on F Series at 10
  3. Acer Launches New 11-inch and 12-inch Tablets in India
  4. Optoma UHR90DV Review: Bold, Bright and Not for Everyone
  5. iQOO CEO on Price Hikes and Why iQOO 16 is a Complete Flagship
  6. OnePlus 16 With a 9,000mAh Battery Debuts at This Price
  7. Oppo Pad Mini Key Features Revealed Ahead of India Launch
  8. Google Fitbit Edge Launch Today: All You Need to Know
  9. iQOO Neo 12, Pad Pro Mini Pre-Orders Begin; Specifications Teased
  1. Kraken Parent Payward Gets Full Dubai Licence to Expand in UAE
  2. Sui Commits $30 Million as DATA Network Winds Down Blockchain
  3. Intel, Qualcomm Raise CPU Prices Amid AI Demand, Panther Lake Processors See Steepest Hike: Report
  4. WhatsApp May Soon Let Android Users Schedule Messages, Photos and Videos
  5. OnePlus 16 Launched With 9,000mAh Battery, Snapdragon 8 Elite Extreme Gen 6 Chipset: Price, Specifications
  6. Amazon Great Indian Festival Sale 2026: Best Deals on Echo Devices and Alexa Speakers
  7. Oppo Pad Mini Key Features Revealed Ahead of India Launch
  8. Ledger Addresses Hidden Chip Concerns as Users Claim $92 Million in Crypto Theft
  9. Vivo X500 E Surfaces on Bluetooth SIG, Google Play Console Ahead of Anticipated Launch
  10. Amazon Great Indian Festival Sale 2026: Best Deals on Premium and Flagship Smartphones
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.