Welcome to our dedicated page for GoDaddy news (Ticker: GDDY), a resource for investors and traders seeking the latest updates and insights on GoDaddy stock.
GoDaddy Inc. (NYSE: GDDY) is a global leader in domain registration and web services, helping millions of entrepreneurs start, grow, and scale their businesses online. Founded with the mission to make it easy and affordable for people to get their ideas online, GoDaddy has evolved into a comprehensive platform offering domain registration, website hosting, security, design, business productivity tools, commerce solutions, and domain registry services.
GoDaddy primarily serves micro- to small businesses, website design professionals, registrar peers, and domain investors. In 2021, the company expanded its offerings by acquiring payment processing platform Poynt, enabling it to offer omnicommerce solutions, including online payment gateways and offline point-of-sale devices.
Recent Achievements and Current Projects:
- In February 2024, GoDaddy's Venture Forward research initiative, in collaboration with Nasdaq and Wells Fargo, highlighted the growing impact of women-led microbusinesses. The panel discussed challenges like access to capital and provided insights to support women entrepreneurs.
- GoDaddy reported strong financial results for Q1 2024, with a focus on sustainable growth and innovation. The company repurchased 2.8 million shares year-to-date, demonstrating solid financial health.
- GoDaddy implemented infrastructure simplifications and restructuring efforts to reduce operating expenses and improve cash flows, impacting approximately 180 employees.
- In May 2024, GoDaddy closed a $1 billion tranche of term loans maturing in 2031 to refinance and extend the maturity date of previous loans, enhancing its financial flexibility.
Financial Condition and Outlook:
As of March 31, 2024, GoDaddy had $664 million in cash and cash equivalents, total debt of $3.9 billion, and net debt of $3.2 billion. The company expects Q2 2024 revenue to range between $1.10 billion and $1.12 billion, with full-year 2024 revenue projected at $4.50 billion to $4.56 billion. GoDaddy aims for a full-year normalized EBITDA margin of approximately 29% and expects unlevered free cash flow of at least $1.4 billion.
For more information, visit GoDaddy's website or their Investor Relations page.
GoDaddy highlights its hybrid work culture at the Gurgaon office, which serves as a collaboration hub while most India teams work remotely. Three key leaders share their experiences: HR Operations Senior Manager Nitika Bansal emphasizes how the hybrid model improves work-life balance and strengthens professional relationships; Senior Director of Engineering Padam Jeet Singh discusses how in-person meetings enable more efficient problem-solving and team bonding; and Head of Product Neha Thapar notes how office interactions accelerate personal and professional growth. The office environment reinforces GoDaddy's 'You Belong Here' culture through meaningful collaborations and community building.
GoDaddy (NYSE:GDDY) released survey results showing 80% of Gen Z and Millennial consumers research small businesses online before making first-time purchases. Key findings reveal that 56% avoid businesses without reviews, while 74% consider lack of recent social media updates as impacting credibility. The survey shows that 73% of Gen Z and 80% of Millennials believe a dedicated website makes businesses more credible. Platform preferences differ between generations, with Facebook leading for Millennials (67%) and Instagram for Gen Z (61%). The data emphasizes the importance of maintaining an active online presence, with over 94% of both generations expecting businesses to be on social media.
GoDaddy's 2024 Annual Venture Forward report reveals strong resilience among microbusiness owners, with 75% relaunching after closures and 39% becoming their household's main income. While only 39% express confidence in the national economy, 74% remain optimistic about their business prospects. The report highlights significant impact at county level, with each entrepreneur creating an average of seven jobs, up from two in 2020.
Notable progress in diversity shows women now owning 51% of microbusinesses, up from 41% in 2019, with nearly a third serving as household breadwinners. The study also indicates 34% of microbusinesses start as side hustles, with 70% utilizing online presence for growth.
GoDaddy (NYSE: GDDY) has announced two upcoming presentations by CFO Mark McCaffrey at major technology conferences. He will speak at the UBS Global Technology Conference in Scottsdale, Arizona on December 4, 2024, at 10:15 a.m. ET, and at the Barclays Global Technology Conference in San Francisco on December 12, 2024, at 11:40 a.m. ET.
Both presentations will be accessible via live audio webcasts and post-event replays through GoDaddy's investor relations website.
Sarah Timmis, a Recruiter at GoDaddy, shares her journey in talent acquisition for the Customer Care department across EMEA regions. With a background in customer care roles since age 18, she brings firsthand experience to her recruitment responsibilities. Sarah highlights GoDaddy's supportive culture, particularly during a personal family crisis, and discusses her transition to full-time recruitment during the pandemic. Her role includes handling high-volume recruiting for Customer Care and Sales teams, attending job fairs, and representing GoDaddy's mission to potential candidates.
GoDaddy's recent survey reveals a strong consumer shift towards supporting small businesses this holiday season. 71% of U.S. shoppers are willing to pay more to support small businesses during Black Friday, with 53% ready to spend up to 10% extra. Despite 65% of respondents citing inflation concerns, 78% are as or more likely to shop at small businesses this holiday season. Gen Z leads this trend at 85%, followed by Millennials at 83%. The survey also shows 40% of consumers plan to do most holiday shopping in the next four weeks, with 19% focusing on Black Friday. Over half of respondents plan to spend more than $50 per person on gifts.
GoDaddy (GDDY) announces its return to Super Bowl advertising after an 8-year hiatus to showcase GoDaddy Airo, their AI-powered solution for small businesses. The company will air a commercial during Super Bowl LIX on February 9, 2025, highlighting how Airo helps transform business ideas into online presence within minutes.
The platform has already attracted nearly 3 million customers in the U.S. and is expanding across 180 countries. GoDaddy Airo's capabilities include accelerating online presence establishment, increasing website traffic, enhancing sales, and improving social media engagement.
A joint study by GoDaddy and UCLA Anderson Forecast reveals that improvements in digital infrastructure created over 280,000 jobs nationwide between April 2020 and March 2024. The research shows that the South and Southeast regions experienced significant growth in microbusiness activity due to digital infrastructure investments. Mississippi led with 9% growth, followed by Alabama (8%) and several states at 7%. The study found that a one-point increase in the infrastructure index correlates to 89 new jobs per county. The Microbusiness Activity Index (MAI) measures three key aspects: digital infrastructure, participation, and engagement across communities.
Nataša Lazić, a WordPress Developer at GoDaddy, shares her professional journey and experiences. Initially working as a PHP Developer, she joined GoDaddy after being inspired by college friends' positive experiences. During the coronavirus period, she focused on providing empathetic support to clients while addressing technical challenges. Her passion for WordPress has grown significantly since joining GoDaddy, appreciating its versatility and community. Outside work, she enjoys outdoor activities like snowboarding, running, and rollerblading, along with creative pursuits such as painting and reading.
GoDaddy (NYSE: GDDY) announced that Chief Financial Officer Mark McCaffrey will present at the 2024 RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference in New York City. The presentation is scheduled for Tuesday, November 19, 2024, at 9:20 a.m. ET / 6:20 a.m. PT. Interested parties can access a live audio webcast and post-presentation replay through GoDaddy's investor relations website.
FAQ
What is the current stock price of GoDaddy (GDDY)?
What is the market cap of GoDaddy (GDDY)?
What services does GoDaddy provide?
Who are GoDaddy's primary target customers?
What recent acquisitions has GoDaddy made?
What is GoDaddy Venture Forward?
What financial results did GoDaddy report for Q1 2024?
How much cash and debt does GoDaddy have?
What are GoDaddy's revenue expectations for 2024?
What restructuring efforts did GoDaddy implement recently?
What are GoDaddy's plans for free cash flow in 2024?
How has GoDaddy expanded its financial flexibility?
