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 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.
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.
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.
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.
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.
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.
GoDaddy recently highlighted its corporate sustainability initiatives through a podcast featuring employee Ebony. Celebrating her ten-year anniversary, Ebony shared her career journey from inbound sales to corporate sustainability, emphasizing the importance of mentorship and self-advocacy. Since 2017, GoDaddy's Empower program has supported over 5,000 entrepreneurs globally, aiding their growth through webinars and coaching. The program aims to double its impact this year, underscoring GoDaddy's commitment to inclusive entrepreneurship. Employees are encouraged to volunteer and support the initiative, reinforcing GoDaddy's social responsibility in the entrepreneurial ecosystem.
GoDaddy has launched the 5-9 series, highlighting employee work-life balance. The series focuses on how the company's culture supports flexibility and personal well-being. In a recent feature, Executive Recruiter Mel Saettone shares insights on balancing work with personal life through unlimited flexible time off (FTO). This initiative reflects GoDaddy's commitment to employee happiness, which positively impacts productivity. Saettone enjoys outdoor activities and sports, emphasizing the importance of recharging after work. This series aims to provide a glimpse into the company's supportive environment and culture.
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