GoDaddy Hosting Files For IPO
Recently GoDaddy hosting has filed for IPO. The hosting provider said that they plan on using some of the money from the IPO to pay some of its debt off, as well as use it for corporate purposes.
GoDaddy filed its regulatory filing, and when they did that they indicated that things such as the number of shares they will offer has not been determined. However, the company did mentioned that they will try to raise some money, up to $100 million. They did say that this is just the placeholder amount, and that the amount could end up change.
The company, based in Arizona, provides products and services such as domain registration, as well as web hosting plans. The company has also listed Citigroup and J.P. Morgan as underwriters for their offering.
The company is 17-years-old, and they have recently drew a lot of attention to themselves after coming out with some edgy commercials that sometimes featured scantly clad women. They also reported a loss of almost $200 million for the year 2013, but revenue rose 24%.
On March 31, which marked the end of a quarter, the company reported a loss of a little more than $50 million, and they reported that their revenue rose 22%. As for their customers, GoDaddy hosting reported that 26% of them were located overseas, mainly in India, Canada, as well as the United Kingdom.
As of March 31, GoDaddy reported a total booking of $438.5 million, and had almost 12 million customers.
Bob Parsons, the founder of the company, and his investment group owns a little more than 28% of the company's Class A stock, which is according to the filing.
Back in 2011 the company was acquired for $2.25 billion by KKR Co. Silver Lake. As of now hey own 28% of the company.