GoDaddy Slows Its IPO Roll
Internet hosting company GoDaddy on Monday updated its IPO registration with all sorts of promising financial financial data. Through the first nine months of 2014, the Scottsdale, Ariz.-based company showed improvements in year-over-year revenue ($825m vs. $1.02b), customers (11,196 vs. 12,452) and EBITDA ($155m vs. $215m). Plus net loss decreasing from $134 million to $116 million.
The one thing we didn’t see, however, were IPO terms.
GoDaddy originally filed its S-1 on June 9, with all intentions of pricing in 2014. But word is that the private equity-backed company now has pushed back its listing plans until sometime in early 2015.
Factors cited in the delay include Alibaba going public one month later than expected (GoDaddy wanted that massive offering out of the way) and the recent public market troubles of competitor Web.com, which saw its share price fall from $36.72 on March 3to just $15.40 on Nov. 3.
GoDaddy shareholders include KKR, Silver Lake and Technology Crossover Ventures. It has not yet selected a stock exchange on which to trade, but has disclosed that lead underwriters will include Morgan Stanley, J.P. Morgan Chase & Co. and Citigroup.