GoDaddy IPO values company at $4.5 billion

Tue Mar 31, 2015 7:49pm EDT
 
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By Olivia Oran, Greg Roumeliotis and Liana B. Baker

(Reuters) - Web hosting company GoDaddy Inc has priced its initial public offering at $20 per share, above its previously indicated $17 to $19 per share range, valuing it at around $4.5 billion, including debt, according to underwriting sources.

At this price, the IPO would raise $440 million. A GoDaddy spokesman did not immediately respond to a request for comment.

Shares in GoDaddy are expected to start trading on Wednesday and list on the New York Stock Exchange under the symbol "GDDY."

Other tech IPOs this year include online data storage provider Box Inc, whose shares have dropped since the company's market debut in January.

More Internet-focused companies are expected to go public soon. Etsy Inc, which operates a website that sells handmade goods and craft supplies, said Tuesday its initial public offering was expected to be priced at $14-$16 per share, valuing it at $1.78 billion.

GoDaddy, whose Super Bowl commercials once featured race car driver Danica Patrick and super model Bar Rafaeli but have since been toned down its advertising, added more than 1.1 million customers last year.

The company was founded in 1997 and in 2011 was acquired by a private equity consortium led by KKR & Co LP and Silver Lake Partners LP for $2.25 billion, including debt.

It has since expanded from its roots in internet domains to provide services to small and medium-sized businesses such as website building and web hosting.   Continued...