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GoDaddy allegedly moving to make second attempt at IPO

updated 01:00 pm EDT, Mon March 17, 2014

First attempt in 2006 failed due to unfavorable market conditions

According to sources familiar with the matter, domain name registrar GoDaddy is preparing for an initial public offering. Reportedly, the company is interviewing banks, who ultimately would lead to the underwriting of the IPO with a goal of trading commencing in the second half of 2014. Adding weight to remarks from the CEO from 2013 saying that an IPO was possible in 2014, GoDaddy seems to be primed to have a growth in profits. According to reports at the turn of the new year, GoDaddy's revenues are expected to climb nearly 10 percent in 2014.

The effort would be the registrar's second attempt. GoDaddy.com had hired Lehman Brothers to manage an initial stock offering that could have raised more than $100 million, and at the time it valued the company at several times that amount. Bob Parsons, then CEO of the company, announced that he had withdrawn the company's IPO filing on August 8, 2006. In September 2010, GoDaddy put itself up for auction, but then called off the auction several weeks later -- despite reports that bids exceeded the asking price of $1.5 billion to $2 billion.




by MacNN Staff

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