GoDaddy IPO to value the company at $2.87 billion

GoDaddy’s plans to offer up 22 million shares of Class A common stocks can raise the company’s valuation to around $2.87 billion.

GoDaddy listed 22 million shares of Class A common stock, priced between $17 and $19 per share on the tech-heavy New York Stock Exchange under the symbol GDDY. GoDaddy’s public offering was expected to value the company at up to $2.87 billion. The company lost around $143 million last year, expected to raise up to $418 million. Founder Bob Parsons, who stepped down as executive chairman in June, will hold 40% of the company’s class B shares and around 24% of class A shares after the offerings.

$418 million

From the SEC filing:

“While we have experienced revenue growth over these same periods, we may not be able to sustain or increase our growth or achieve profitability in the future or on a consistent basis. We have incurred substantial expenses and expended significant resources upfront to market, promote and sell our products.”

GoDaddy has priced its initial public offering at $20 per share, which makes its value around $4.5 billion, including debt. At $20 per share, the IPO would raise $440 million. The company was founded in 1997 and in 2011 was acquired by a private equity consortium led by KKR & Co LP and Silver Lake Partners LP for $2.25 billion, including debt.

Stay tuned for up-to-date Web Hosting News