The activist investor Starboard Value invested in web hosting, domain, and cloud services company GoDaddy. The company has acquired 6.5% of the GoDaddy shares. This investment shows that Starboard Value believes and expects further growth in GoDaddy businesses.
From domain registering to hosting and cloud services
Value of the GoDaddy shares jumped up with Starboard’s move
Currently, GoDaddy has a market valuation of roughly 12.7 billion US dollars. The company was just a simple domain registration service provider. In recent years, GoDaddy went beyond domain registration to hosting, cloud, and e-commerce services. For that purpose, they have bought Host Europe Group in 2016.
GoDaddy has announced its revenue of Q3 2021 as 964 million US dollars. The year-to-year increment is 14.2%, up from $844.4 million. That means the company grows faster than many managing service providers in the SMB market while falling behind the big public cloud providers like Amazon Web Services and Microsoft Azure.