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AZ Tech Beat | August 23, 2019

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GoDaddy files new IPO papers

GoDaddy files new IPO papers
Ryan Loebe

GoDaddy, a leading small business solutions provider, is getting closer to an initial public offering (IPO) this week with plans to price shares at $17 to $19 and plans to offer 22 million shares in all. The website host and Internet domain registrar aims to raise as much as $418 million with the planned IPO.

The Scottsdale-based small business champion has made several attempts in the recent years of going public, so maybe this time their efforts will pay off.

The Company expects to have an approximate market value as high as $2.7 billion, based on the number of Class A and B shares outstanding after the offering.

The shares will trade on the New York Stock Exchange (NYSE) under the symbol GDDY.

According to USA Today, GoDaddy’s new filing states that it “took in $1.4 billion in revenue last year, up from $74 million in 2010 and $1.39 billion last year. GoDaddy narrowed its string of net losses from $200 million in 2013 to $143 million last year, the filing showed. GoDaddy had approximately 12.7 million customers as of Dec. 31, the company reported.”

GoDaddy intends to use proceeds from the IPO to make one-time payments to KKR, Silver Lake and other current investors in the company, the filing showed.

Click here for more coverage of GoDaddy

Contributions from USA Today