Web Hosting & Domain News-Go Daddy Targets New Markets and Ponders IPO
Date: Thursday, July 15 @ 16:39:17 EDT
Topic: News
Go Daddy Software Inc is making a killing out of the domain name registration business, and is looking to grow in related markets such as security and hosting. The company is also pondering an initial public offering, according to CEO Bob Parsons.
The company is generating cash, is profitable, has no debt, no outside investors, and expects $110m of sales this year, Parsons said. Parsons is the sole shareholder, but the company does have an employee share option plan in place.
Asked about IPO plans, Parsons said: "We're talking about it, we've been in contact with a few people about it." The company has also been approached about being acquired several times. Going public is not expected to happen soon, Parsons said.
Parsons said the company is currently focused on improving its existing services, such as web hosting and SSL certificates, and on growing its already considerable base of domain name registrations customers.
By selling domains for $8.95 per year, making them among the cheapest of the large registrars on the market, the company has second place in terms of the total number of existing registrations, and first place in terms of growth.
Go Daddy says it regularly has 30% to 35% of the net new domain registrations in terms of the "ICANN TLDs", (.com, .net .biz and others), and has about 22% of the total domains under management in these TLDs.
But VP of marketing Elizabeth Perrine said that this growth has been achieved largely through word-of-mouth. The firm recently commissioned its first-ever market research, to find out what customers wanted, and will soon start advertising on television.
Full Story Here: http://www.cbronline.com/latestnews/4f356e6ff58d5e5b80256ed20032d57a
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