GoDaddy Value Hits $5.5 Billion (U.S.)
CBJ – Shares of GoDaddy were up 34% in their debut on Wednesday, valuing the Web-hosting and domain registration company at $5.5 billion, including debt.
The company raised $460 million after its initial public offering of 23 million class A shares was priced at $20 per share, above the expected range of $17-$19.
GoDaddy, which sponsors NASCAR driver Danica Patrick, sold all the shares in the offering.
GoDaddy had about 13 million customers across 37 countries as of Dec. 31. It manages about 59 million domains, or about one out of every five existing domains in the world.
Founded in 1997 by Bob Parsons, GoDaddy is led by Blake Irving, a former chief product officer of Yahoo.