GoDaddy, which provides domain-name registration and hosting services, has priced its much-anticipated initial public at $20 a share Tuesday evening.

According to reports, the price is slightly higher than previously indicated $17 to $19 per share range. This would give the company a valuation of nearly $4.5 billion.

The company's shares will start trading Wednesday morning under the ticker symbol 'GDDY'. GoDaddy raised $440 million in the IPO, which it filed in June.

The web hosting company was founded in 1997 by Bob Parsons and raised its profile through Super Bowl commercials.

Currently, the company's advertising campaigns feature celebrities including race-car driver Danica Patrick and Israeli model Bar Refaeli.

In 2011, it was acquired by a private equity consortium led by KKR and Co. LP and Silver Lake Partners LP for $2.25 billion, including debt. Since then, the company has expanded from its roots in internet domains to provide services to small and medium-sized businesses such as website building and web hosting.

In addition to internet domains, the company sells various online business services to entrepreneurs. These include marketing tools and bookkeeping software.

The company's revenue has risen about 52% in last three years to about $1.4 billion. In 2014, the net loss has narrowed to $143.3 million, from $279 million in 2012.

The company is in competition with Endurance, United Internet, Web. com and companies like Amazon. com Inc., Google Inc. and Microsoft Corp., which have recently entered the domain name registration business.

In 2006, Google launched its free Web hosting service, Google Page Creator. It was the same year when GoDaddy filed for an IPO and later withdrew it, citing unfavorable market conditions. Morgan Stanley, JP Morgan Securities and Citigroup were lead underwriters to the IPO.