GoDaddy Is Going Public
After a failed attempt at going public in 2006, GoDaddy is giving it another shot.
The Internet domain registrar and Web hosting company, which was founded by entrepreneur Bob Parsons, listed $100 million as the amount it plans to raise. Fortune reports that number is just a "placeholder," as the company has yet to determine its offering amount.
Morgan Stanley, Citigroup, and JP Morgan Chase will be the lead underwriters for the IPO. The filing did not mention the ticker symbol or the exchange.
Scottsdale, Arizona-based GoDaddy, an Inc. 5000 company, filed for an IPO in 2006 hoping to raise $200 million, but withdrew the attempt later that year, citing unfriendly market conditions. The company was also facing mounting losses year over year.
Things might be better this time around, however, as GoDaddy's financials are on an upward trajectory. According to Fortune, the world's largest Web registrar reported a $200 million net loss on $1.13 billion in revenue for 2013, compared to a $279 million net loss on $979 million in revenue the previous year.
IPOs in 2014 have reached dollar volumes not seen since the dot-com bubble. As Inc.'s Jeremy Quittner has reported, 64 companies went public through the end of March, raising nearly $11 billion, the highest number since the same period in 2000.
JILL KRASNY | Staff Writer
Jill Krasny is a staff writer for Inc. magazine, where she covers the intersection of entertainment and startups. Prior to Inc., she was a writer for MTV and Esquire and an editor at TheStreet. She is a graduate of the University of Southern California with a degree in communication. She lives in New York City.