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 and UCLA Anderson Forecast's latest research reveals that digital infrastructure improvements have created over 280,000 jobs nationwide between April 2020 and March 2024. The study, part of GoDaddy's Venture Forward initiative, shows a strong correlation between digital infrastructure investment and job growth, particularly in the South and Southeast regions of the United States.
Key findings include:
- A one-point increase in the infrastructure index corresponds to an increase of 89 jobs in a county
- The Microbusiness Activity Index (MAI) measures digital infrastructure, participation, and engagement
- Reliable broadband connectivity is important for economic opportunity and prosperity
The research highlights the importance of digital infrastructure in fostering microbusiness activity and job creation, especially in the post-COVID era.
GoDaddy employees Renee Deines and Lanie Moser have successfully launched a side business, Queen Creek Soft Play, while maintaining their full-time roles at the company. Renee, with 11 years at GoDaddy, manages Care Incentives, while Lanie, a 12-year veteran, serves as Director of Employee Relations. Their entrepreneurial journey began when they purchased an existing party equipment rental business, transforming it within a month. They credit their success to leveraging their network, utilizing GoDaddy's resources, and embracing positive self-talk. The duo encourages others to tap into the entrepreneurial spirit at GoDaddy, emphasizing the importance of articulating goals and manifesting success.
Rupa Patel, a Lead Researcher at GoDaddy, shares her entrepreneurial journey and insights in this interview. With a background in Biomedical & Health Informatics, Rupa co-founded CaseDrive, a healthcare communication app. She highlights how GoDaddy's products have supported her venture, including domain purchases, website building, and payment solutions.
Rupa's experience as a small business owner enhances her empathy for GoDaddy's customers and provides valuable insights for product improvements. She advises aspiring entrepreneurs to enjoy the journey and be patient, as building a successful venture takes time. The interview also showcases how GoDaddy supports employee entrepreneurship and fosters a culture of innovation.
GoDaddy has launched Digital Marketing, an all-in-one product designed to help entrepreneurs manage their marketing efforts and increase online visibility. The tool integrates SEO, social media, and email marketing features with a unified inbox for customer messages. It leverages GoDaddy Studio and GoDaddy Airo™ to create AI-powered branded content for various platforms.
The product offers three plans: Essentials, Deluxe, and Ultimate, catering to different business needs and budgets. Features include social media management, business listings, digital ads, logo design, and AI-assisted content creation. GoDaddy aims to support small businesses by making cost-effective marketing tools easily accessible, addressing the lack of time, money, and skills that often hinder effective online marketing for entrepreneurs.
GoDaddy Inc. (NYSE: GDDY) has announced its participation in two upcoming investor conferences. Chief Financial Officer Mark McCaffrey will attend the Seaport Research Partners Annual Summer Investor Conference, held virtually on August 20, 2024. Additionally, CEO Aman Bhutani is scheduled to present at the 2024 Citi Global Technology Conference in New York City on September 4, 2024, at 8:20 a.m. ET.
A live audio webcast of the Citi conference fireside chat will be accessible on GoDaddy's investor relations website. An audio replay will also be available after the presentation. This participation in high-profile investor conferences suggests GoDaddy's commitment to engaging with the investment community and sharing insights about the company's performance and strategy.
GoDaddy (NYSE: GDDY) announced its Q2 2024 financial results, reporting total revenue of $1.1 billion, a 7% YoY increase, and exceeding guidance. Applications and Commerce revenue rose by 15% to $405.6 million, while Core Platform revenue saw a 3% increase to $718.9 million. The company also achieved a 76% surge in net income to $146.3 million, and NEBITDA grew by 25% to $331.7 million.
GoDaddy's free cash flow rose by 35% to $323.4 million. The company continued its share repurchase program, buying back 4.1 million shares for $520.8 million. Its innovative GoDaddy Airo™ experience is expanding globally. For Q3 2024, GoDaddy expects revenue between $1.13 billion and $1.15 billion, and NEBITDA margin around 29%.
For FY 2024, revenue is projected between $4.525 billion and $4.565 billion with NEBITDA margin at 29% and free cash flow at $1.3 billion.
Aisha Rashid shares her career journey at GoDaddy, highlighting her progression from Care Sales Guide to Supervisor in the Inbound department. She emphasizes the importance of clear communication, goal-setting, and stepping out of one's comfort zone for success. Aisha's proudest moment was her promotion to Supervisor, where she earned global recognition for championing the AmplifAI coaching effectiveness initiative.
Aisha credits GoDaddy for pushing her out of her comfort zone and helping her gain confidence. She offers advice for those starting a career in Care, including preparing career goals, seeking additional opportunities, and leaning on mentors for support. The article also mentions GoDaddy's commitment to employee growth, diversity, and progression.
GoDaddy's Made in America documentary series returns for its fifth season, focusing on Ohio's entrepreneurial landscape. The series highlights the state's 490,000+ microbusinesses and showcases the impact of community partnerships and organizations like the Economic & Community Development Institute (ECDI).
The season features two inspiring stories:
- Carter's BBQ: Darren and Theresa Carter's journey from steel mill work to pursuing a passion for barbecue.
- Gray Brush Vintage Market: Lisa Brickey and Vonda Rogers' venture into vintage retail in Portsmouth, Ohio.
The series, premiering on July 25, 2024, aims to inspire and advocate for inclusive entrepreneurship, particularly in underserved communities. It showcases GoDaddy's commitment to supporting small businesses through initiatives like the Empower by GoDaddy program.
GoDaddy (GDDY) is expanding its photography network across the United States to capture stories of locally owned businesses. The company is seeking freelance photographers to shoot for websites and social media pages managed by GoDaddy. The initiative offers opportunities for both seasoned professionals and emerging talents to enhance their portfolios.
GoDaddy streamlines the process by handling customer communications, scheduling, and providing creative style guides. Photographers are not required to edit, as post-production is managed in-house. The company encourages interested photographers to apply through their provided link.
The press release also highlights an interview with Thomas Allison, a former freelance photographer who now works full-time for GoDaddy's Photography team. It mentions his experience photographing local businesses in Austin, Texas, and a two-year cycling trip from Alaska to Argentina.
GoDaddy's 2023 Sustainability Report highlights their commitment to six United Nations Sustainable Development Goals (SDGs). The company has achieved gender pay parity globally for the ninth consecutive year and ethnicity pay parity in the U.S. for the seventh year. They are committed to affordable and clean energy, using 100% renewable energy in their data centers in EMEA and Phoenix. GoDaddy promotes inclusive economic growth and entrepreneurship through initiatives like Empower by GoDaddy, which supported nearly 2,900 entrepreneurs in 2023. The company also emphasizes strong corporate governance and ethics, actively working to prevent online child sexual abuse material (CSAM).
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