BrokerDealer.com blog extends thanks to NYT DealBook for below news extract.
GoDaddy, the domain name registration giant, plans to sell its shares to investors in an initial public offering.
Courtesy of NYT DealBook
The company, which filed a prospectus with regulators on Monday, is preparing to tap the public markets about two-and-a-half years after it was bought by a group led by the private equity firms Kohlberg Kravis Roberts and Silver Lake. GoDaddy previously sought to go public in 2006, but a deal never materialized at that time.
GoDaddy allows individuals and small businesses to set up Internet domain names, offering services like website building, hosting and security. The company had 57 million domains under management as of Dec. 31. It generates the majority of what it calls bookings — gross sales before refunds — from sales of domain names.
K.K.R. and Silver Lake, along with the venture capital firm Technology Crossover Ventures, paid about $2.25 billion for GoDaddy in December 2011. The company plans to use some of the money raised in the I.P.O. to reduce its debt.
It also plans to make a $25 million payment to its private equity and venture capital owners, to terminate an agreement under which the owners have collected fees.
For the full story, please visit NYT DealBook article.