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GoDaddy Files for $100 Million IPO

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GoDaddy is looking to raise around $100 million in its initial public offering, according to the company’s S-1 filed with the Securities and Exchange Commission on Monday.

According to a report by Bloomberg Businessweek, the amount is not finalized, and GoDaddy will provide more details for the number or price range of shares it will sell.

GoDaddy has been posturing for an IPO for some time, recently enlisting Morgan Stanley and JPMorgan Chase to manage its filing. According to reports in April, GoDaddy planned to file for an IPO in the fall.

Those who have been following the hosting industry for some time will recall that this is not the first time GoDaddy has filed for an IPO. The company filed for an IPO in May 2006 under former CEO and GoDaddy founder Bob Parsons, only to back out in August 2006, citing poor performance of technology IPOs.

Fast forward eight years and GoDaddy’s business model has changed. The company is in a stronger position to serve the rapidly growing SMB market, both in the US and in international markets, most recently Europe.

The past couple of years GoDaddy has made a string of acquisitions to support its position as a one-stop shop for small businesses. In October, GoDaddy acquired (mt) Media Temple for an undisclosed amount, signalling a huge shift in its approach to marketing and service innovation.

According to a report by Fortune, “GoDaddy reports a $200 million net loss on $1.13 in revenue for 2013, compared to a $279 million net loss on $979 million in revenue for 2012. Its 2014 also is tracking better than 2013, based on a $51 million net loss on $320 million in revenue for the first quarter.

When reached by the WHIR on Monday, a GoDaddy spokesperson was unable to comment on the IPO as per SEC quiet period guidelines.

About the Author

Nicole Henderson is the Editor in Chief of the WHIR, where she covers daily news and features online. She has a bachelor of journalism from Ryerson University in Toronto. You can find her on Twitter @NicoleHenderson.

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