Go Daddy Has Been Sold
Go Daddy Group Inc.’s sale to KKR, Silver Lake and Technology Crossover Ventures comes as the company expects to top $1.1 billion in revenue this year because expanding Internet use has fueled the creation of more websites and the “domains” needed to help find them. Go Daddy announced the sale late Friday. The companies declined to provide a purchase price, but people familiar with the matter said the deal is worth $2.25 billion, roughly half of which is debt.
A fact sheet accompanying the release indicated that Go Daddy’s revenue has grown by more than 20 percent in each of the past several years.
An official from Silver Lake said that the firm plans to “maintain and augment” GoDaddy’s customer support and competitive pricing.
A KKR representative said that there is a “significant opportunity ” to expand the current products and services and to also accelerate growth internationally.
The Go Daddy Group Inc. was founded in 1997 by Bob Parsons, who continues to serve as its CEO. The company, based in Scottsdale, Ariz., manages more than 48 million domain names, and sells other Internet-related technologies.