GoDaddy shares increase

According to Reuters, GoDaddy Inc. managed to raise $460 million by selling 23 million class shares, priced at $20 after its initial public offering (IPO). Shares of the company increased up to 34% following its IPO.

According to Ernst & Young official Jackie Kelley, "Even though GoDaddy is almost 20 years old, it's a growth company and it's cash flow-positive, which is what investors are interested in".

GoDaddy, a publicly traded Internet domain registrar and web hosting company headquartered in Scottsdale, Arizona, is concentrating on operations on small-business services, assisting in consumer-to-business and business-to-business transactions.

In the beginning, the company was set to have an IPO in 2006. But, company officials withdrew the move as a result of unfavorable market conditions during that time. The company also made many attempts for its rebranding. It released controversial ads like Super Bowl Ad commercials. However, the company is still growing and performing well.

According to Chief Executive Officer Blake Irving, the present time is a branding moment for them and their business is doing well globally. At present, GoDaddy is valued at almost $5.5 billion. Majority of profit earned by the company is on account of international expansion of domain hosting.