GoDaddy sold for 2.5 Billion
Monday, July 18th, 2011
(The Hosting News) – Go Daddy Group, Inc., the parent company for GoDaddy.com has sold a majority stake to a group of private equity firms for an estimated $2.5 billion. As reported last week, the group is led by KKR & Co., Silver Lake Technology Crossover Ventures and will assume all of Go Daddy Inc.’s debt as well as its assets.
As the largest domain registrar in the world, GoDaddy boasts over 9.4 million customers and manages more than 48 million domain names.
Despite this, the company has reported consecutive annual losses with growth only during the latest fiscal year.
For at least the time being, CEO Robert Parsons will remain in that position, and has stated the company’s plans to expand its offerings by increasing its international presence and moving its hosting services into the cloud-based services.
