The company says its sponsorship "deepens its relationship with auto racing fans" and as part of the deal, Go Daddy will have its "iconic branding on everything from broadcast segments to aerial and in-car views."

"When you think of IndyCar racing, the first race that comes to mind is the Indianapolis 500," says Bob Parsons, CEO and founder of Go Daddy. "They don't call it the greatest spectacle in racing for nothing."

In its press release announcing the sponsorship, Go Daddy plays up the opportunity for "Go Daddy-esque" spokesperson Danica Patrick's chance to "make history again" at this year's Indy 500. In April, Patrick became the first female ever to win in IndyCar with a victory in the Japan 300.

According to Go Daddy, analysts have listed Patrick as "one to watch" and the media have been on a "coverage-frenzy" since her win last month. It was three years ago at the Indy 500 that Patrick made her first big splash on the racing scene, when she led the Indy 500 for 19 laps and finished fourth.

"She's a consummate professional," says Parsons. "She's not afraid to take risks. She's edgy and she's powered by determination and passion - all qualities we respect and employ at Go Daddy."

Since last year's Indy 500 sponsorship, Go Daddy says it has added more than one million customers and the number of domain names it manages has grown to nearly 50 percent. The numbers are largely attributable to Go Daddy's far-reaching marketing efforts, if not all specifically related to Patrick and the Indy. Go Daddy's other mainstream advertising efforts include sponsorships of the NFL and NCAA football, as well as NASCAR and olympic swimmer Amanda Beard.

Go Daddy has been particularly active in the auto racing scene in the last few weeks. Besides its presumably positive marketing outcomes with Patrick, on Tuesday, Go Daddy announced that Mark Martin will be racing the "No.5 Go Daddy Chevrolet" at the NASCAR event at South Carolina's Darlington Raceway this Friday.