Tweet
GoDaddy Inc (GDDY) IPO: World’s Largest Web Registration Provider Begins Trading On NYSE, IPO Could Value Company At Over $3B
International Business Times
by Jessica Menton
April 1, 2015
Excerpt:
GoDaddy, the world's largest website registrar, will make its stock market debut Wednesday with an initial public offering that could value the company at more than $3 billion. Shares of the company’s stock are set to trade on New York Stock Exchange under the ticker symbol “GDDY” and will be priced at $20 per share, above its previous range of $17 to $19 per share.
If all of the 22 million shares being offered in the transaction are sold at the high end of that range, it could net the company and its early investors $440 million.
...
Founder Bob Parsons launched the company in 1997 as Jomax Technologies and first sought to go public in 2006. That IPO never happened because the company withdrew due to unfavorable market conditions.
In December 2011, private equity firms Kohlberg Kravis Roberts & Company, Silver Lake Partners and the venture capital firm Technology Crossover Ventures bought GoDaddy for $2.25 billion. The company filed for an IPO again last June.
Beyond its market debut, GoDaddy has a number of challenges. It hasn't turned a profit since 2009. The company has around 13 million customers and owns nearly 60 million domains under its management, according to its S1 filing with the Securities and Exchange Commission. However, GoDaddy lost $143.3 million in 2013 on revenue of $1.4 billion. The company had a debt of $1.5 billion as of May 2014, according to the company’s S1 filing.
...
David Louton, professor of finance at Bryant University, agrees. “While GoDaddy is positioned as the dominant player in this market and it is undeniable that there will be continued demand growth for some time to come, I do not see any evidence of a catalyst that will push demand beyond its organic growth trajectory,” Louton said.
...
Read more at:
http://www.ibtimes.com/godaddy-inc-g...r_01_2015_0402
International Business Times
by Jessica Menton
April 1, 2015
Excerpt:
GoDaddy, the world's largest website registrar, will make its stock market debut Wednesday with an initial public offering that could value the company at more than $3 billion. Shares of the company’s stock are set to trade on New York Stock Exchange under the ticker symbol “GDDY” and will be priced at $20 per share, above its previous range of $17 to $19 per share.
If all of the 22 million shares being offered in the transaction are sold at the high end of that range, it could net the company and its early investors $440 million.
...
Founder Bob Parsons launched the company in 1997 as Jomax Technologies and first sought to go public in 2006. That IPO never happened because the company withdrew due to unfavorable market conditions.
In December 2011, private equity firms Kohlberg Kravis Roberts & Company, Silver Lake Partners and the venture capital firm Technology Crossover Ventures bought GoDaddy for $2.25 billion. The company filed for an IPO again last June.
Beyond its market debut, GoDaddy has a number of challenges. It hasn't turned a profit since 2009. The company has around 13 million customers and owns nearly 60 million domains under its management, according to its S1 filing with the Securities and Exchange Commission. However, GoDaddy lost $143.3 million in 2013 on revenue of $1.4 billion. The company had a debt of $1.5 billion as of May 2014, according to the company’s S1 filing.
...
David Louton, professor of finance at Bryant University, agrees. “While GoDaddy is positioned as the dominant player in this market and it is undeniable that there will be continued demand growth for some time to come, I do not see any evidence of a catalyst that will push demand beyond its organic growth trajectory,” Louton said.
...
Read more at:
http://www.ibtimes.com/godaddy-inc-g...r_01_2015_0402
Comment