Wall Street Journal Reports GoDaddy is For Sale
You will be glad to know that the hosting and registrar company GoDaddy is going on sale. The Wall Street Journal has reported that the company is auctioning itself and bids have been reportedly reaching the $1 billion mark.
Frank Quattrone began an investment banking firm back in 2008, Qatalyst Partners, that has now been hired to manage the sale for the Go Daddy Group Inc. It is speculated that because the company is about to become publicly traded, GoDaddy has begun this sales process. This is not the first time for the company, as they have tried this process and cancelled it once before.
GoDaddy registered in 2006 with the SEC. This was the beginning process for the company going public, but they decided not to follow through. The Founder of the company, Bob Parsons, blogged at the time about the growth they had seen. He also talked about the market's uncertainty and the way it influenced his companies decision to go backwards on an Initial Public Offering (IPO).
Between $750 million and an incredible $800 million in revenue is what estimates say GoDaddy took home in 2009. These large numbers go hand in hand with the asking price of $1 billion.
If you have any comments or predictions about who will buy GoDaddy please share them.