GoDaddy Inc., a privately held domain registrar and web hosting company, is looking for a valuation of up to $2.87 billion in an initial public offering. According to a regulatory filing, GoDaddy is offering 22 million shares at $17 to $19 each to generate up to $418 million. And as per Thursday's filing, the company seeks a market value between $2.57 billion and $2.87 billion.

IPO of the company has come more than three years following a group led by KKR & Co. and Silver Lake Management purchased the Scottsdale, Arizona-based company for $2.25 billion. GoDaddy is all set to start marketing the sale to investors after fixing the price range.

Revenue of $1.39 billion was posted by the company in 2014, which increased 23% from the previous year. As per the filing, net loss of the company decreased to $143.3 million over the same period, from $200 million in 2013.

The company is looking forward to use the proceeds for a one-time payment to Silver Lake, KKR and other present owners. It will be also using it for general working purposes and to repay debt. The offering is being managed by JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc.

"There's more to our story than you may know. Most people still don't know what GoDaddy is. So where we're putting our advertising and brand dollars is explaining who we are and what we do", Chief Executive Blake Irving said in an online IPO presentation video.

Last year in June, the company announced that it was going public. The banks, which are managing the IPO, may acquire another 3.3 million shares.