News Column

GoDaddy files for a US float

June 10, 2014

MARION DAKERS



WEB HOSTING company GoDaddy last night filed for its long-awaited initial public offering, announcing that it will sell Class A common stock to raise $100m - though this is a placeholder sum that could change.


Morgan Stanley, JP Morgan and Citigroup are the lead underwriters for the initial public offering, GoDaddy told the US Securities and Exchange Commission in a preliminary prospectus.


The company said it has 12m customers and 57m registered domain names. It believes it can sell more web hosting to small businesses as part of its expansion plans.


GoDaddy, which said in 2013 that it was considering a stock market debut, generated $1.1bn in revenues $199m in adjusted earnings last year.


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Source: City A.M. (UK)


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