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 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.
GoDaddy recently featured Erik Batista on the Own Your Career podcast, emphasizing his career journey within the company. Starting from a marketing background, Erik transitioned to solar sales before joining GoDaddy after the acquisition of Main Street Hub in 2018. He is now a Team Lead in Account Management Services, where he focuses on social media management for businesses. Erik highlights the importance of taking risks and pursuing passions in one’s career while busting myths about social media management being easy. The podcast aims to inspire listeners to take ownership of their career paths.
GoDaddy published a report highlighting its achievements in 2022, focusing on its commitment to empowering entrepreneurs through various social impact programs. The Empower by GoDaddy initiative celebrated its fifth anniversary, aiding underserved communities with digital training and resources. Feedback from participants indicates substantial business growth, with one entrepreneur reporting a revenue doubling. The company also introduced a Spanish-language course for entrepreneurs, resumed in-person volunteerism after two years, and plans to enhance its offerings in 2023, including daycare stipends and improved curricula. GoDaddy aims to release its 2022 Sustainability Report in Spring 2023.
GoDaddy emphasizes the importance of mentorship for underrepresented groups in tech, focusing on the Latino community. Tim Grijalva, president of GoDaddy LatinX technology, discusses the challenges faced by aspiring Latino professionals in finding mentors and sponsors. He asserts that mentorship is crucial in navigating career paths and achieving leadership roles. Grijalva shares his personal journey from a non-engineering background to leadership within GoDaddy, highlighting the value of support and guidance in professional development.
GoDaddy recently launched a blog series highlighting employees' lives beyond the workplace, emphasizing a human-first approach to work-life balance. Featured in this series is Kara Federow, a Website Security Support Supervisor based in Iowa, who articulates the significance of work-life balance for personal fulfillment, which includes hobbies, spending time with family, and the necessity of taking time off. GoDaddy fosters a supportive environment encouraging employees to prioritize self-care and personal interests, showcasing its commitment to employee well-being and work flexibility.
GoDaddy Inc. (NYSE: GDDY) announced the appointment of Srini Tallapragada and Sigal Zarmi as new independent directors, effective January 25, 2023. Their extensive experience in technology and strategic planning is expected to enhance GoDaddy's operational strategies and risk management. Tallapragada, previously with Salesforce, brings a wealth of technology expertise, while Zarmi, former CIO at Morgan Stanley, adds significant operational risk management knowledge. This change follows the resignation of directors Ryan Roslansky and Lee Wittlinger. Additionally, the company is moving forward with a declassification of its board, with class II directors to be presented for a one-year term at the upcoming shareholders' meeting.
FAQ
What is the current stock price of GoDaddy (GDDY)?
What is the market cap of GoDaddy (GDDY)?
What services does GoDaddy provide?
Who are GoDaddy's primary target customers?
What recent acquisitions has GoDaddy made?
What is GoDaddy Venture Forward?
What financial results did GoDaddy report for Q1 2024?
How much cash and debt does GoDaddy have?
What are GoDaddy's revenue expectations for 2024?
What restructuring efforts did GoDaddy implement recently?
What are GoDaddy's plans for free cash flow in 2024?
How has GoDaddy expanded its financial flexibility?
