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's recent findings highlight a significant rise in women-led startups, reporting a 26% increase in female entrepreneurship since the pandemic. Women now represent 59.6% of new businesses, up from 47.3% pre-2020. Notably, Black women are the fastest-growing segment, accounting for 21.5% of new businesses. Despite these advancements, challenges such as marketing and digital presence remain prevalent. To address this, GoDaddy launched Empower by GoDaddy, which supports underserved entrepreneurs through training and resources. Program graduates shared insights emphasizing resilience, community support, and maintaining a digital presence as essential elements for success.
GoDaddy and Worldpay from FIS have introduced Commerce 360, an all-in-one omnichannel solution aimed at simplifying sales for small retail businesses, both online and offline. This partnership combines GoDaddy's user-friendly business tools with the expertise of Worldpay, the largest payment acquirer. Commerce 360 enables small businesses to accept payments across various channels, including online marketplaces and social media, while providing a custom website and merchant dashboard for easy management. The goal is to empower smaller enterprises with the latest technology to enhance customer experiences.
GoDaddy recently highlighted the significant role of Black microbusiness owners in entrepreneurship through its Venture Forward initiative. Findings reveal these entrepreneurs are driven to support their communities and exhibit strong optimism about their businesses' futures. To celebrate Black History Month, GoDaddy featured video advice from four Black entrepreneurs, encouraging others to embrace confidence, surround themselves with supportive networks, and lead with courage. With over 21 million customers, GoDaddy is committed to fostering inclusive opportunities. For more insights, visit GoDaddy's website.
GoDaddy emphasizes its commitment to diversity and inclusion in the workplace through initiatives like the Empower by GoDaddy program. Highlighted in a recent event for Black History Month, Desmond Sweet, Learning Program Manager, advocates for the Black in Technology community and supports entrepreneurs from underserved backgrounds. The program aims to provide digital skills training and mentoring, exemplified by a workshop where participants learned to publish their websites. GoDaddy underscores its mission to make technology accessible, enabling diverse communities to thrive in the entrepreneurial landscape.
GoDaddy launched Empower by GoDaddy, a global social impact program aimed at assisting entrepreneurs. The initiative focuses on providing training, resources, and networking opportunities tailored to local community needs. Employee volunteers share expertise in marketing and website development to help small businesses thrive. Volunteers Katherine Islim and Dinkar Jaitly emphasized the program's value in enhancing user understanding and product application. The initiative aims to bridge gaps in resources for entrepreneurs, fostering inclusive opportunities for business growth.
GoDaddy employee Ishmael Obleton shares his journey and experiences in a recent employee spotlight. With over twelve years at the company, Obleton emphasizes community, diversity, and teamwork as core values. He actively participates in Employee Resource Groups (ERGs), which foster a sense of belonging and community engagement. Outside his professional role as a Software Development Engineer, Obleton enjoys coaching sports and highlights the importance of Black History Month in recognizing the contributions of Black Americans. He expresses optimism about increasing minority representation in technology over the next decade.
On February 23, 2023, GoDaddy (NYSE: GDDY) launched Payable Domains, enabling small business owners to accept payments through newly registered domains. This innovation allows users to create shareable links for secure transactions without needing a website. Payable Domains is integrated with GoDaddy Payments, featuring low transaction fees of 2.3% + $0.30. The initiative aims to enhance the utility of domain names, allowing entrepreneurs to establish an online presence quickly. GoDaddy's efforts reflect a commitment to simplifying commerce solutions for small businesses, further strengthening its suite of connected commerce tools.
GoDaddy Inc. (NYSE: GDDY) will participate in the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on March 6, 2023, at 12:10 p.m. ET. The presentation will feature Aman Bhutani, CEO, and Mark McCaffrey, CFO. A live audio webcast and subsequent replay will be accessible via GoDaddy's investor relations website.
GoDaddy assists millions of entrepreneurs worldwide in launching and managing their businesses through user-friendly tools, including website creation, payment processing, and online sales support.
GoDaddy employee Lee Glasgow discusses his role as a Senior UX Engineer and his entrepreneurial ventures. With over 16 years at GoDaddy, Glasgow emphasizes the supportive environment that fosters creativity. He runs two Etsy shops, focusing on digital and physical products sourced from his passion for woodworking and gaming. Glasgow aims to transition customers from Etsy to his personal website to avoid fees and gain greater control. He credits GoDaddy's Managed WordPress and WooCommerce for helping establish his online presence and expresses a commitment to continual learning and improvement.
GoDaddy Inc. (GDDY) reported robust financial results for 2022, with a total revenue of $4.1 billion, a 7.2% increase year-over-year. The company achieved notable growth in key metrics: cash provided by operating activities rose 18% to $979.7 million, and free cash flow increased 13% to $968.6 million. Net income surged 45.3% to $352.9 million. The fourth quarter saw GoDaddy signing a strategic partnership with FIS Worldpay to enhance its OmniCommerce solutions. As it enters 2023, GoDaddy expects total revenue to range between $4.250 billion and $4.325 billion, signaling a growth outlook of 5% for the year.
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