GoDaddy prices IPO at $20 per share seeking valuation of $4.5 billion
Domain name registrar GoDaddy has filed for IPO with a price tag of $20 per share. The domain names registrar and hosting company aims to raise nearly $440 million with the IPO. Earlier reports had suggested that GoDaddy would price its IPO at $17-19 per share.
GoDaddy manages nearly 20 percent market share in the domain names segment. The company is offering 22 million shares in the IPO.
Scottsdale-based GoDaddy will be listed on the New York Stock Exchange as “GDDY”. Morgan Stanley, J.P. Morgan and Citigroup will manage the initial public offering.
According to SEC filing, GoDaddy registered 1.3 million additional customers in 2014. GoDaddy has managed to grab a strong market share in the domain name segment but the company is still not able to generate profit. As of December 31, 2014, GoDaddy had a debt of $1.5 billion. In year 2014, GoDaddy posted a net loss of $143.4 million.
In 2011, GoDaddy was acquired by private equity firms KKR & Co, Silver Lake Partners and Technology Crossover Ventures. The company was founded in 1997 as Jomax Technologies. The name was changed to GoDaddy in 1999.
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