Tight t-shirts won't get GoDaddy out of its financial mess: but a public offering to the tune of $100 million might
By Catholic Online (NEWS CONSORTIUM)
6/10/2014 (3 years ago)
Catholic Online (www.catholic.org)
Website registration company, GoDaddy, has filed with the Security and Exchange Commission for a $100 million initial public offering of its stock.
Danica Patrick,is a professional auto racer and spokesperson for website domain registration website, GoDaddy.
LOS ANGELES, CA (Catholic Online) - The company, known for racy ads featuring professional driver Danica Patrick and other women, also showed a dismal finance history, revealing that the company hasn't made a profit since 2009.
Heed the call: Join Pope Francis and his war against world hunger.
In 2012 the company lost $279 million and another $200 million in 2013. This trend looks to continue this year, posting losses of $51 million in the first quarter.
One possible explanation for these losses is the major debt accrued by the company back in 2011. Three private equity firms came to the rescue back then, with $2.25 billion to purchase a major stake in the company.
As part of this announcement, founder of GoDaddy, Bob Parsons is stepping down from his position as executive chairman, though he'll remain a board member. Back in 2011 he stepped down as the CEO.
Parsons owns 28% of the company, and the three firms who purchases the stake back in 2011-KKR & Co., Silver Lake Partners and Technology Crossover Ventures-own 28%, 28% and 12% of the company respectively.
Beyond the current dismal postings, GoDaddy is showing some positive growth. The company's customer base has been expanding by 13% a year and reached 11.6 million customers back in 2013. The current total of registered websites has also grown, hitting 1.4 million that same year.
The company is also looking into selling new top-level domains, like .nyc and .bike, which will soon become available pending approval from the Internet Corporation for Assigned Names and Numbers.
Back in 2006 GoDaddy tried to go public but backed out when it didn't get the pricing it wanted. This time, the company plans to offer an unknown number of shares of common stock. There's no word yet on what the company's ticker will be.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for JUNE 2017
National Leaders. That national leaders may firmly commit themselves to ending the arms trade, which victimizes so many innocent people.
A district court judge on Thursday halted the deportation of more than 100 Iraqis, including many Chaldean Christians, who were recently ... continue reading
A California court on Wednesday dismissed 14 of 15 criminal charges against an undercover journalist behind the video expose of Planned ... continue reading
A Serial Killer's Last Words: The hidden motive behind Ted Bundy's horrific murders (WARNING: GRAPHIC CONTENT) Watch
Editor's note: The following content may be disturbing to some readers. Reader discretion is advised. Raiford, Florida (CNA) - He was one ... continue reading
Perhaps, if Christians try to understand more about the loaves, we will be able to help structure an what I am calling an economy of gift ... continue reading
The Beatitudes call us to own our responsibility for suffering in the world, Archbishop Wilton Gregory of Atlanta preached on Wednesday at ... continue reading
by Catholic Online
- Daily Reading for Wednesday, June 28th, 2017 HD Video
- Daily Readings for Tuesday, June 27, 2017
- Is Atheism a religion?
- Central bankers warn of looming global recession HD Video
- Supreme Court sides with church in playground case
- Vatican asks for the release of bishop forcibly removed from diocese
- St. Cyril of Alexandria: Saint of the Day for Tuesday, June 27, 2017
- Daily Reading for Tuesday, June 27th, 2017 HD
- Daily Reading for Monday, June 26th, 2017 HD
- Daily Reading for Sunday, June 25th, 2017 HD
- Pope Francis prepares an incredible gift of love and solidarity for South Sudan HD