The GoDaddy Group, Inc., one of the world’s popular domain registrars, announced last Friday on its site that it has entered into a partnership with private equity firms KKR & Co., Silver Lake Partners and Technology Crossover Ventures. Financial terms of the transaction were not disclosed although analysts had valued it at $2.25 billion.
Bob Parsons, GoDaddy’s founder and CEO, will continue to be the largest single shareholder and will become the executive chairman after the agreement is finalized. He also predicted further growth of GoDaddy under its new ownership, with the venture providing help especially in terms of finances and talent recruitment.
Founded in 1997, Go Daddy is the world’s largest on-ramp for cloud-based software and services. The company serves more than 9.3 million global customers and manages more than 48 million domain names. Go Daddy has locations in Arizona, Colorado, Iowa, Washington, D.C., Singapore, Toronto and The Netherlands, and is headquartered in Scottsdale, Arizona. The company has seen significant growth over the past three years, with sales rising by 25% to $947 million from 2009 to 2010. It projects its sales figure for 2011 to be $1.1 billion.
Techie She’s POV
With the increase in capital and a foreseen access to better talent recruitment, I am looking forward to better services from GoDaddy. GoDaddy was the first site where I hosted my blog, GEORYL but unfortunately, the company focused more on marketing and advertisement and failed in the area where it matters most – performance and delivery of services. I had transferred all my sites to Hostgator since then and I never had a security problem eversince (yeah, so GoDaddy’s lame excuse of security problems due to not updated WP installations was lame).
I thought it was just me but when I had read a post about how GoDaddy deals with hackers and the security of sites in their system, I knew changing hosts was a good move. Until now, I am seeing new comments on that posts from disgruntled GoDaddy customers.
Hopefully, with this partnership, things will change.