GoDaddy Group Inc., the largest ICANN-accredited domain registrar in the world, has agreed to be bought on Friday by a private equity consortium headed by companies KKR & Co., Silverlake Partners and Technology Crossover Ventures.
While spokespersons of the company declined to give a sales figure, individuals close to the situation estimate it to be as near as US$2.25bn. The sale will clear the company’s estimated US$1.1bn debt, and will allow the web-based start-up to further expand and increase its international presence.
Chief Executive and founder Bob Parsons will retain his current role within the company, while also continuing to serve as the company’s majority shareholder. The private equity consortium will act as the company’s largest investors, while it has been reported that Parsons plans to gradually transition out of his role as CEO to that of an executive chairman.
According to Parsons, “I’m just one guy, I can only take the company so far,” he said. “Since we spend most of our time running the ship, we’re not everywhere, we don’t see the possibility to do acquisitions, we don’t have the funds to do acquisitions. You need a friend (to) make introductions for us, help us out.”
GoDaddy, a company founded in 1997 and known for its famed Super Bowl advertisements and GoDaddy girls, has achieved extraordinary growth within the US, but has struggled to match that growth in foreign markets. The injection of capital will allow the company to acquire other start-ups and continue its domestic growth through to foreign markets.
