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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 Inc. (NYSE: GDDY) announced the completion of a significant credit agreement refinancing through its subsidiaries. The company has secured $1,463 million in new term loans maturing in 2029, which were used to refinance all outstanding Existing Tranche B-6 Term Loans. The refinancing was executed through a Twelfth Amendment to the Second Amended and Restated Credit Agreement.
The new Replacement Term Loans feature an amortization rate of 1.00% per annum, with the first installment due around December 31, 2024. The Applicable Margin is set at 1.75% for SOFR Loans and 0.75% for ABR Loans under the new terms.
GoDaddy's Venture Forward initiative released its Q4 2024 newsletter and 2024 annual report, showcasing significant insights into microbusiness trends across Australia, Canada, UK, and US. Key findings reveal that 75% of microbusiness owners relaunch after setbacks, with 39% of these ventures becoming their main household income.
The report highlights that each microbusiness contributes to 7 jobs at the county level. Beauty and Health/Medical sectors lead e-commerce industries across most countries. Notable growth was observed in US states, with Delaware showing a remarkable 65% one-year growth in microbusiness count.
In the UK, AI adoption is driving job creation, with AI-using microbusinesses being twice as likely to employ others compared to non-AI users. The study also found that areas with higher population migration showed increased microbusiness density.
GoDaddy has released its 2024 Venture Forward Annual Report, expanding its microbusiness research initiative to four countries: the U.S., U.K., Australia, and Canada. The report analyzes data from over 20 million global online microbusinesses, focusing on their impact on local economies.
The research highlights entrepreneurs' resourcefulness in adopting new technologies like Generative AI, and their resilience in running businesses with typically fewer than 10 employees. The initiative aims to provide insights about where and how business owners are growing their ventures, their motivations, challenges, and demographics.
The report emphasizes these entrepreneurs' contributions to local economies through job creation and community impact, with GoDaddy's mission focusing on making opportunity more inclusive for all.
GoDaddy highlights how small businesses can help reduce holiday hosting stress through various services. The article features Gray Brush Vintage Market, a vintage rental business in Portsmouth, Ohio, founded by Vonda Rogers and Lisa Brickey, who participated in the Empower by GoDaddy program. The PR also showcases other small businesses like Carter's BBQ and Nika's Cupcake Bar, demonstrating how local entrepreneurs can assist with holiday preparations from décor to catering.
The article emphasizes that two out of three small businesses and 89% of retail businesses rely heavily on the holiday season for their revenue. With over 20 million global online microbusinesses, consumers have numerous options to outsource holiday tasks while supporting local entrepreneurs.
GoDaddy's (NYSE: GDDY) recent survey of 1,500 U.S. consumers reveals significant generational differences in social media shopping habits. Facebook emerges as the top platform, with 52% of Millennials making purchases there in the last three months, compared to 31% of Gen Z and 35% of Gen X and Boomers.
Key findings show that 90% of Gen Z and Millennials make impulse purchases on social media, with over half making monthly purchases. The survey identified fashion (37%), food (22%), and electronics (10%) as top purchasing categories. Most Gen Z (44%) and Millennials (38%) limit social media purchases to under $50.
Business legitimacy concerns (47%) and shipping issues are major deterrents across generations. The study also reveals platform preferences: Millennials strongly favor Facebook (67%), while Gen Z prefers Instagram (61%) and TikTok (48%) for business presence.
GoDaddy announces its second annual 30-Day 'Start a Business' Challenge for 2025, building on last year's success which attracted over 27,000 webpage visits. The initiative provides entrepreneurs with a step-by-step roadmap to launch their businesses, covering aspects from naming to marketing strategy and operations.
According to GoDaddy Venture Forward research, which tracks over 20 million global online microbusinesses, communities have seen double-digit growth in microbusiness density over the past five years. However, online marketing remains a significant challenge for microbusiness owners. The 2025 challenge will feature enhanced content with participation from small business influencers and GoDaddy employees.
GoDaddy shares the career journey of Jelena Nejkov, highlighting her progression from Customer Support to technical support roles. The article showcases how GoDaddy supports small business owners by providing technical solutions and guidance for their websites. Jelena emphasizes the company's collaborative culture, particularly noting how GoDaddy fosters an inclusive environment where individuality is celebrated and team support is abundant.
The profile highlights GoDaddy's commitment to helping customers maintain secure, fast, and growth-ready websites, recognizing that many rely on their sites as primary income sources. The piece also details how the company's supportive environment enables employees to balance personal and professional growth while making meaningful contributions to customer success.
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 of microbusinesses, with each entrepreneur creating an average of seven jobs at the county level, up from two in 2020. Notable progress in diversity shows women now own 51% of microbusinesses, up from 41% in 2019, with nearly a third serving as household breadwinners. 34% of these ventures begin as side hustles, and over 70% maintain an online presence for growth.
GoDaddy announced a significant refinancing operation where its operating companies have allocated $1,463 million in Replacement Term Loans maturing in 2029. The proceeds will be used to refinance all outstanding Tranche B-6 Term Loans under their Second Amended and Restated Credit Agreement from February 15, 2017.
The refinancing transaction is expected to close in the fourth quarter of 2024, subject to certain conditions. The company notes that there is no guarantee the transaction will be completed as described.
GoDaddy highlights the career journey of Calvin Lenz, a Supervisor in Website Security and Sales, who has spent over 11 years with the company. Starting in Inbound Sales with no prior tech experience, Lenz evolved from feeling nervous about sales to becoming a successful leader who transformed team performance.
His notable achievement includes revitalizing an overnight sales team through 'Cal's Corner,' daily huddles where he shared sales tips, leading the team to achieve the highest sales per day across all departments. Lenz emphasizes the importance of understanding team members' unique strengths and aligning work with personal values to maximize potential.
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