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Internet domain services provider GoDaddy files for $100M IPO in US

GoDaddy_logoInternet domain services provider GoDaddy Inc has filed for an Initial Public Offering (IPO) with the US Security and Exchange Commission (SEC) to raise $100 million. GoDaddy previously sought an IPO in 2006, but the plans did not materialise.

GoDaddy is a leading domain name marketplace with approximately 57 million domains under management as of December 31, 2013. The firm generates bookings and revenue from sales of product subscriptions, including domain name registrations, hosting and presence offerings and business applications.

It has two sales channels - the website and the customer care organization. In 2013, it derived approximately 76 per cent and 24 per cent of its total bookings through the website and the customer care organization, respectively.

As of March 31, 2014, GoDaddy had approximately 12 million customers. In 2013, it added more than 1.3 million customers. In the same year, it generated $1.4 billion in total bookings, up from $753 million in 2009, representing a compound annual growth rate of 17 per cent.

In 2013, GoDaddy had $1.1 billion of revenue, up from $610 million in 2009, representing a CAGR of 17 per cent.

The company has a significant presence in international markets, too. The firm began investing in the localization of its service offerings in markets outside of the US in 2012. As of April 30, 2014, it offered localized products and customer care in 37 countries, 44 currencies and 17 languages. For the three months ended March 31, 2014, more than 23 per cent of its total bookings were attributable to customers outside of the US.

GoDaddy in India

The firm established a customer care centre in India in 2012. Since launching in India, the firm has increased market share of .in domain registrations by approximately 16 percentage points. The firm has 238 customer care employees in India.

As of March 31, 2014, approximately 26 per cent of its customers were located in international markets, notably Canada, India and the UK.

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