GoDaddy eyes initial public offering: sources
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[March 15, 2014]
By Greg Roumeliotis and Nicola Leske
(Reuters) — Web hosting company The GoDaddy Group Inc is preparing
for a second run at an initial public offering, according to two
people familiar with the matter, as the 2014 tech IPO pipeline
continues to grow.
GoDaddy, the Internet domain registrar and web host known for its
racy ads, would join a number of high-profile technames expected to
go public this year in the wake of Twitter Inc's successful debut.
They include "Candy Crush" developer King Digital and cloud services
providers Box and Dropbox.
The company is in the process of selecting underwriters for its IPO,
one of the two sources said on condition of anonymity.
GoDaddy was not immediately available for comment.
GoDaddy had filed to go public in 2006 but was told at the time that
it would be required to take a 50 percent haircut — a percentage
that is subtracted from the par value of assets that are being used
as collateral — on its initial public offering.
The company instead decided to pull its filing, citing unfavorable
The company, founded in 1997, was eventually acquired by a private
equity consortium led by KKR & Co and Silver Lake in 2011 for $2.25
billion. Silver Lake declined to comment while KKR did not
immediately respond to a request for comment.
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Other private equity buyers included Technology Crossover Ventures.
GoDaddy, which provides website domain names, is famous for airing
bawdy commercials with scantily clad women for the past decade
during the Super Bowl.
The Wall Street Journal first reported on the plans.
(Reporting by Nicola Leske; editing by
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