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GoDaddy Inc - GDDY STOCK NEWS

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.

Rhea-AI Summary

GoDaddy Inc. (NYSE: GDDY) will announce its financial results for the first quarter of 2023 on May 4, 2023, following the closing of the U.S. stock market. The company's management will conduct a webcast at 5:00 p.m. Eastern Time to discuss these results. Interested participants can register for the webcast through the provided links. GoDaddy specializes in offering tools and resources that support entrepreneurs in building and scaling their businesses, including website creation, customer attraction, and online payments. As part of its commitment to transparency, a recording of the webcast will be made available post-event on GoDaddy's investor relations website.

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GoDaddy emphasizes the importance of work-life balance in its company culture, highlighting the fulfillment employees experience without feeling overwhelmed. A program manager, Victor Gomez, shares personal experiences of managing family duties alongside work responsibilities. He appreciates GoDaddy’s approach to workload management and the flexibility to prioritize family without guilt. Gomez also discusses his extracurricular interests, including a 3D printing business with his wife. GoDaddy encourages a supportive atmosphere, allowing employees to thrive in both personal and professional realms, ensuring well-being is a core value.

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GoDaddy recently highlighted the journey of Prashanthi Kanniappan-Murthy, a cybersecurity professional, showcasing her transition from intern to full-time employee. Since joining GoDaddy's Cyber Threat Intelligence team in 2019, she has developed a passion for security and complex problem-solving. Prashanthi emphasizes the significance of having a good support system for women in tech and notes that GoDaddy's flexible work environment has allowed her to maintain a healthy work-life balance. Through supportive mentorship and teamwork, she continues to thrive in her role, underscoring the company's commitment to employee well-being.

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GoDaddy highlights the journey of Selina Bieber, a key executive overseeing Commercial Strategy across the Rest of World (RoW) market. Since joining in 2015 as the third employee in EMEA, she has progressed through various marketing and operational roles, especially in the MENA region. Bieber emphasizes the importance of learning, customer focus, and data-driven decision-making for women entering tech. She celebrates GoDaddy's flexibility in work-life balance, allowing her to manage her career while being present for her family. Her experiences underscore the need for more women in tech to drive diversity and innovation.

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GoDaddy highlights the career journey of Heather Crowder, emphasizing her evolution from a customer support role to the lead writer in the company's Digital Care Organization. Over the past eight years, Crowder has focused on content design and enhancing the user experience for domain products. She collaborates closely with various teams to improve communication with customers about domain protection offerings. Crowder advocates for inclusivity and collaboration, reflecting on how these values have shaped her career. Her advice for aspiring writers includes continuous practice, networking, and understanding voice and tone in tech writing.

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GoDaddy celebrates the accomplishments of its female leaders, Laura Messerschmitt and Tamara Oppen, who are breaking barriers in the tech industry.

Ahead of International Women's Day, they share insights on overcoming challenges in business and promoting diversity. Despite women representing less than a third of the workforce in large tech firms, GoDaddy's leadership team was a third female by 2021.

With initiatives focusing on diversity and pay parity, GoDaddy aims to create equitable opportunities. The company emphasizes the importance of launching ideas early, regardless of perfection, to understand market needs better.

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GoDaddy reveals a significant shift in the gender dynamics of British microbusiness founders, with 46% female and 53% male in the last year, compared to 38% female and 60% male previously. The rise is attributed to flexible working and the normalization of remote work.

However, challenges persist for female entrepreneurs: 82% take on domestic chores while 44% cite childcare costs as barriers. Despite these hurdles, 72% of female founders launched their businesses for under £1,000, indicating resilience in the face of obstacles.

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GoDaddy released new findings from its Venture Forward initiative, revealing over 5.27 million Americans started microbusinesses since the pandemic began. The report highlights a 42% surge in new business creation in the U.S. since 2019, with increased diversity among entrepreneurs. To support this trend, GoDaddy launched an entrepreneurial Learning Series in New York, featuring influential speakers and practical advice on online and branding strategies. The series included sessions by successful entrepreneurs discussing key aspects of building and marketing their digital businesses, aiming to empower the next generation of business owners.

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FAQ

What is the current stock price of GoDaddy (GDDY)?

The current stock price of GoDaddy (GDDY) is $196.35 as of November 22, 2024.

What is the market cap of GoDaddy (GDDY)?

The market cap of GoDaddy (GDDY) is approximately 27.1B.

What services does GoDaddy provide?

GoDaddy offers domain registration, website hosting, security, design, business productivity tools, commerce solutions, and domain registry services.

Who are GoDaddy's primary target customers?

GoDaddy primarily targets micro- to small businesses, website design professionals, registrar peers, and domain investors.

What recent acquisitions has GoDaddy made?

GoDaddy acquired the payment processing platform Poynt in 2021 to expand its omnicommerce solutions, including online payment gateways and offline point-of-sale devices.

What is GoDaddy Venture Forward?

GoDaddy Venture Forward is a research initiative launched in 2018 that analyzes the impact of over 20 million online microbusinesses on local economies.

What financial results did GoDaddy report for Q1 2024?

GoDaddy reported strong Q1 2024 results, focusing on profitable growth, with revenue growth driven by key initiatives and innovation.

How much cash and debt does GoDaddy have?

As of March 31, 2024, GoDaddy had $664 million in cash and cash equivalents and total debt of $3.9 billion, with net debt at $3.2 billion.

What are GoDaddy's revenue expectations for 2024?

GoDaddy expects full-year 2024 revenue to be between $4.50 billion and $4.56 billion, representing a year-over-year growth of 6.5% at the midpoint.

What restructuring efforts did GoDaddy implement recently?

In Q1 2024, GoDaddy implemented restructuring efforts, including reducing its workforce by approximately 180 employees, to cut operating expenses and improve cash flow.

What are GoDaddy's plans for free cash flow in 2024?

GoDaddy expects unlevered free cash flow of at least $1.4 billion and free cash flow of at least $1.2 billion for the year 2024.

How has GoDaddy expanded its financial flexibility?

In May 2024, GoDaddy closed a $1 billion tranche of term loans maturing in 2031, refinancing and extending the maturity date of previous loans.

GoDaddy Inc

NYSE:GDDY

GDDY Rankings

GDDY Stock Data

27.06B
139.49M
0.65%
97.73%
2.48%
Software - Infrastructure
Services-computer Integrated Systems Design
Link
United States of America
TEMPE