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US-based domain registrar GoDaddy prepares to go public

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March 14
7:47 PM 2014

GoDaddy Group Inc is gearing up for an initial public offering (IPO), according to sources familiar with the situation. The Internet firm would most likely start trading in the second half of 2014, wrote The Wall Street Journal (WSJ).

The sources said 17-year-old firm is planning to interview banks ahead of an IPO underwriting. If the company follows the normal pacing, GoDaddy's IPO could be launched in the second half of this year. According to Standard & Poor's (S&P) Ratings Services' January report, the firm's revenues are expected to climb in 2014 but its cash profit is expected to have a slightly slower growth due to higher costs, the report explained.

GoDaddy is a domain name registrar based in Scottsdale, Arizona. The firm also provides web hosting services to over 12 million entities all over the world. Founded by Bob Parsons in 1997, the company now holds 57 domain names under management. Former Yahoo Inc chief product officer Blake Irving is the company's present Chief Executive Officer (CEO), the report detailed.

According to TechCrunch, GoDaddy was bought by private equity groups in 2011 for $2.25 billion.

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