Bloomberg News

Go Daddy Said to Pick Morgan Stanley, JPMorgan for 2014 IPO (1)

April 09, 2014

GoDaddy.com

Go Daddy Operating Co.’s sales in the year through June were about $1 billion, Moody’s said. Photographer: Scott Eells/Bloomberg

Go Daddy Operating Co., the website registration and hosting company, has picked Morgan Stanley (MS:US) and JPMorgan Chase & Co. to manage an initial public offering this year, people with knowledge of the matter said.

Go Daddy, based in Scottsdale, Arizona, is aiming to be public in the fall, one of the people said, asking not to be identified discussing private information. The size of the offering hasn’t been determined, the people said.

The company, which has raised its profile in recent years with an advertising campaign featuring celebrities like race-car driver Danica Patrick and Israeli model Bar Refaeli, is enjoying high levels of customer retention and strong subscriber growth, according to Moody’s Investors Service. Chief Executive Officer Blake Irving said in a July interview that sales could reach $5 billion in two or three years.

Go Daddy’s sales in the year through June were about $1 billion, Moody’s said. Irving said in the interview that Go Daddy could approach public markets as soon as this year.

Investment firms KKR & Co., Silver Lake Management LLC and Technology Crossover Ventures bought a stake in Go Daddy in July 2011, in a deal valuing the company at $2.25 billion, a person familiar with the matter said at the time.

The company filed to go public in 2006 and withdrew the plans within months, citing unfavorable market conditions.

Tasha Pelio, a spokeswoman with JPMorgan, and Mary Claire Delaney, a spokeswoman at Morgan Stanley, declined to comment on their firms’ involvement in Go Daddy’s IPO. Elizabeth Driscoll, a spokeswoman for Go Daddy, also declined to comment.

To contact the reporters on this story: Cristina Alesci in New York at calesci2@bloomberg.net; Leslie Picker in New York at lpicker2@bloomberg.net

To contact the editors responsible for this story: Mohammed Hadi at mhadi1@bloomberg.net John Lear


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • MS
    (Morgan Stanley)
    • $34.06 USD
    • 0.63
    • 1.85%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus