Domain hosting company GoDaddy filed for IPO today. They first tried an IPO about ten years ago, but never went public. This time around, after being acquired by several private equity firms, things should go more smoothly.
In a separate release, the company also announced that founder Bob Parsons would be stepping down as Executive Chairman of the Board. Parsons was CEO until 2011, when he sold most of the company and left that role to focus on other ventures, including his philanthropic foundation. He is still the company's largest shareholder. (You may also remember the uproar he caused after shooting an elephant in Zimbabwe that same year.)
The SEC filing indicates they will raise $100 million, but the amount can (and probably will) increase.
GoDaddy made $1.13 billion in revenue in 2013. JPMorgan, Morgan Stanley and Citigroup will work on the IPO.
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to firstname.lastname@example.org.