Is Go Daddy (Finally) Going Public?
Would you snag a slice of cheap hosting company Go Daddy if you could? In a recent interview with the Wall Street Journal, Go Daddy CEO, Blake Irving, told press that he's not opposed to an IPO. Go Daddy is growing “…at double digits,” and that may mean it's time for the company to go public.
Love the idea of owning a piece of the most popular cheap hosting company out there? Let's take a look at Go Daddy, and see whether or not this company is worth staking a claim in.
Is Go Daddy (Finally) Going Public: Previous Forays
In 2006, Go Daddy was ready for an IPO. The company announced public plans, but (then CEO) Bob Parsons pulled the plug on the deal. Later in 2010, Go Daddy began a partnership with ‘KKR Silver Lake and Technology Crossover Ventures.' This partnership came with an undisclosed amount, but estimates are around $2 billion. These details may point to a somewhat unstable company, but it also has to be pointed out that Go Daddy has a remarkably good recovery ability.
Is Go Daddy (Finally) Going Public: Scandals and More
Go Daddy has been involved in its share of scandals. Yet, the company's PR department always handles these issues with ease. Further, Go Daddy continues to grow. When Go Daddy opened its virtual doors in 2001, the company grossed around $4.3 million in revenue. Today, that number is in the billions. That's not a bad growth.
But, the public faith in Go Daddy as hosting company seems to waver. Go Daddy (arguably) spends the most on advertising, offers lots of excellent deals, and tends to capture enough of an audience with its offerings. If the company does go public this year, it will be interesting to see what kind of response (and value) it gets.
Would you invest in Go Daddy if the company goes public? Is Go Daddy worth an investment?