IPO

GoDaddy Files for IPO as Founder Steps Down as Executive Chairman

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Today marks a big day in GoDaddy’s history. No, it hasn't created another controversial Super Bowl ad. The web domain company has filed for an IPO with the SEC.

In addition, the Scottsdale, Ariz.-based tech company said that founder Bob Parsons has resigned from his role as executive chairman “in order to devote more time to his ventures outside of GoDaddy.” A new chairman will be named “over the coming months.”

The amount of the IPO as listed on the company’s regulatory filing with the SEC is $100 million, though that amount is likely to change as the offering date nears.

In recent months, GoDaddy has announced several phases of an aggressive international expansion plan. It says it plans to be in 60 markets, 52 countries and 30 languages in the next year and a half.

Founded in 1997 by Parsons, GoDaddy says it has 12 million customers worldwide and 57 million domain names under management.

Parsons stepped down from his role as CEO in 2011. Since then he has been devoting time to his other venture, YAM Worldwide, a conglomerate of businesses in the power sports, golf, real estate and marketing industries. It has grown to 350 employees and $160 million in annual revenues, the company says.

Related: GoDaddy Begins Aggressive International Expansion in Latin America

Edition: June 2017

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