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Will GoDaddy Do An IPO?
March 26, 2014 by admin
Filed under Around The Net
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Web hosting company The GoDaddy Group Inc is gearing up for a second attempt at an initial public offering, according to two people familiar with the matter, as the 2014 tech IPO pipeline continues to grow.
GoDaddy, the Internet domain registrar and web host known for its racy ads, would join a number of high-profile tech names expected to go public this year in the wake of Twitter Inc’s successful debut. They include “Candy Crush” developer King Digital and cloud services providers Box and Dropbox.
The company is in the process of selecting underwriters for its IPO, one of the two sources said on condition of anonymity.
GoDaddy was not immediately available for comment.
GoDaddy had filed to go public in 2006 but was told at the time that it would be required to take a 50 percent haircut — a percentage that is subtracted from the par value of assets that are being used as collateral — on its initial public offering.
The company instead decided to pull its filing, citing unfavorable market conditions.
The company, founded in 1997, was eventually acquired by a private equity consortium led by KKR & Co and Silver Lake in 2011 for $2.25 billion. Silver Lake declined to comment while KKR did not immediately respond to a request for comment.
Other private equity buyers included Technology Crossover Ventures.
GoDaddy, which provides website domain names, is famous for airing bawdy commercials with scantily clad women for the past decade during the Super Bowl.
The Wall Street Journal first reported on the plans.
GoDaddy To Drop SOPA Support
Giant domain name registrar GoDaddy.com has yanked its support from the controversial Stop Online Piracy Act after owners of several websites stated they would take their business elsewhere.
Negative feedback about SOPA from a number of customers forced GoDaddy to take a second look at the legislation, said Warren Adelman, Go Daddy’s newly appointed CEO. Go Daddy has concerns about the free speech and Internet security implications of the legislation, but until now, has worked with lawmakers to address those issues, he said.
“It’s clear to us the bill’s not ready in its current form,” Adelman said Friday. “Looking at this over the last 20 hours, we’re not seeing consensus in the Internet community, we’re hearing the feedback from our customers.”
On Thursday, Reddit user selfprodigy said he was pulling 51 domain names from GoDaddy because of the registrar’s support of SOPA. The same day, Ben Huh, CEO of the Cheezburger family of humor websites said said his company would move its 1,000-plus domains off Go Daddy unless it dropped its support for the bill, known as SOPA.
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