Name: 0610GoDaddy_TIME3
Uploaded: 2014-06-10
Duration: 1 min 47 s
Description: 0610GoDaddy_TIME3

The world's largest domain provider, GoDaddy is going public. The era's owner- based company will try to raise around $ 100, 000, 000 in it's initial public offering. It's been reported that number is just a placeholder for a presumably much higher value. Expect those details to come out closer to the IPO. The filing shows that since it's founding in 1997, the internet domain name provider has accumulated 57 million domains and 12. 1 million customers who each pay an average of $ 125 annually. It's also raised capital and eyebrows with racy advertising campaigns that even it's new CEO Blake Irving called a big gap between what the ads say and what the company is. Then in 2013, GoDaddy shifted it's strategy, encouraging entrepreneurs to start their own businesses by getting a website first. 2014 Super- bowl commercial featured the departure from ads with race car driver Danicka Patrick, and instead told the story of a GoDaddy customer quitting her job to open her own company. With a new public image and new leadership, the company's IPO might have more traction than in 2006, when former CEO Bob Parsons first tried to take the company public. Parsons pulled to IPO because he thought the SEC's quiet period regulations weren't in line with his outspoken company. Parsons moved out of his role as CEO in 2011 after investors purchased GoDaddy for 2. 25 billion dollars. However, he didn't take with him the 200 million dollars in annual losses, the company incurred over the past few years. Last July, Irving told Bloomburg he hopes to steer the company to $ 5 billion in revenue, in the next two or three years. Thanks for watching, I'm Cliff Judy.