Web Hosting company GoDaddy Inc. has priced its initial public offering at $20 a share, against the expected $17-$19 a share, the value of the company is priced at $4.5 billion including the debts.
According to this price GoDaddy will raise $440 million in the IPO. The company will be listed on the New York Stock Exchange under the name ‘GDDY’.
More internet-focused companies are expected to go public soon. Etsy Inc, which operates a website that sells handmade goods and craft supplies, said its initial public offering was expected to be priced at $14-$16 per share, valuing it at $1.78 billion.
GoDaddy was founded in 1997 and was acquired in 2011 by a consortium led by KKR & Co LP and Silver Lake Partners LP who purchased the company at $2.25 billion including debts.
GoDaddy dominates the web domain business with their business rising to 53% inb the last three years.
GoDaddy competes with companies like United Group and Web.com which provides the web domains for the websites and recently companies like Microsoft and Amazon have also started providing web domains to the users.
GoDaddy filed for an IPO in 2006 and later withdrew it, citing unfavorable market conditions, the same year Google Inc launched its free web hosting service, Google Page Creator.
Morgan Stanley, JP Morgan Securities and Citigroup were lead underwriters to the IPO.