GoDaddy Finally Files for IPO, Yet Again — Without Parsons

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GoDaddy Inc. has just filed its Form S-1 with the U.S. Securities and Exchange Commission. While this is a filing for an initial public offering (IPO), we would be quick to point out that the domain name registration service and Web hosting service had filed to come public prior to this. That was pulled due to market conditions several years ago.

Terms were not disclosed, but the filing itself says that the offering will be up to $100 million in common stock. We would also remind readers that the initial filing amount is for fees only, and the number can change handily by the time the real IPO date occurs.

The company did not specify whether the listing would come on the NYSE or the Nasdaq, nor was a stock ticker designated.

GoDaddy had its work cut out for the underwriters, and the syndicate is large enough that the $100 million offering size seems as though it will be more symbolic than set in stone. Morgan Stanley, J.P. Morgan and Citigroup are listed as the book-running managers; co-managers are listed as Barclays, Deutsche Bank Securities, RBC Capital Markets, KKR Capital Markets and Stifel.

What investors will want to know is that GoDaddy claims to have some 12 million customers via the people and organizations that use the company, after adding some 1.3 million customers in 2013. GoDaddy was founded back in 1997.

UPDATED: GoDaddy then in a separate release announced that founder Bob Parsons has resigned his position as executive chairman of the board. This move is said to be in order to devote more time to his ventures outside of GoDaddy. The company said, “Mr. Parsons will continue to serve on the board of directors. A new chairman will be named over the coming months.”

Company bookings in 2013 were $1.4 billion, up at a 17% compound annual growth rate since the $753 million in 2009. Its 2013 revenue was listed as $1.1 billion, also up at a 17% compound annual growth rate from $610 million in 2009. Its financial snapshot is in the image below.

GoDaddy profit chart
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