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 Inc. (NYSE: GDDY) announced the appointment of Michele Lau as Chief Legal Officer and Mark McCaffrey as Chief Financial Officer. Lau, effective July 12, 2021, previously served at McKesson Corporation, while McCaffrey will begin his role on June 2, 2021, coming from PricewaterhouseCoopers. Both executives bring extensive experience to their new positions, with Lau focusing on legal strategy and governance, and McCaffrey having a strong background in financial consulting for technology firms. Their appointments replace retiring executives, aiming to enhance GoDaddy's future growth.
GoDaddy reported its first quarter 2021 results, achieving a record $1 billion in bookings, with revenue increasing by 13.8% to $901.1 million. Notably, domains revenue rose 18.8% to $422.7 million. However, net income fell to $10.8 million from $43.2 million year-over-year. The company also announced a $775 million share repurchase plan, raising total authorization to $1 billion. For Q2 2021, revenue is forecasted at approximately $920 million, and full-year revenue guidance was raised to $3.745 billion, a 13% increase.
GoDaddy Inc. (NYSE: GDDY) has launched the Hub by GoDaddy Pro, a new free site experience aimed at website designers and developers. This integrated platform consolidates tools for project, site, and client management into a single dashboard, enhancing efficiency. Users report saving an average of three hours per site monthly through maintenance tools. The Hub also prioritizes support ticketing and facilitates collaboration with clients. This initiative complements GoDaddy's recent introduction of Poynt, a payment processing plugin for WooCommerce.
GoDaddy Registry has announced the acquisition of the .club and .design domain extensions, alongside 28 additional extensions from Minds + Machines Group Limited for $120 million. This strategic purchase aims to enhance GoDaddy's portfolio by adding popular and relevant domain options, aligning with their growth strategy. Post-acquisition, GoDaddy Registry will manage over 240 top-level domains and more than 14 million domain names. The acquisitions are subject to certain conditions, including shareholder approval.
GoDaddy Inc. (NYSE: GDDY) is set to release its first-quarter financial results on May 5, 2021, after market close.
Management will host a conference call at 5:00 p.m. ET to discuss the results, with a live webcast accessible on their investor relations website.
The company focuses on empowering entrepreneurs with tools to succeed online, reinforcing its mission to support customer growth and success.
GoDaddy (NYSE: GDDY) has announced a partnership with tennis star Naomi Osaka to launch a project that she has been passionate about for over a year. The details of this collaboration are set to be revealed later this year. Osaka expressed excitement for the opportunity to work with GoDaddy, emphasizing its commitment to empowering entrepreneurs with essential tools for success. GoDaddy's CMO, Fara Howard, highlighted the inspiration derived from Osaka's journey and the company's dedication to supporting impactful entrepreneurial ventures.
GoDaddy (NYSE: GDDY) has announced that CEO Aman Bhutani and CFO Ray Winborne will present at the Morgan Stanley Technology, Media & Telecom Conference on March 4, 2021, at 11:00 a.m. ET. Interested parties can access a live audio webcast on GoDaddy's investor relations website, with a replay available afterward. GoDaddy aims to empower entrepreneurs by providing tools to create websites, attract customers, and manage their businesses effectively.
GoDaddy (NYSE: GDDY) recently expanded its Managed WordPress Ecommerce offerings by introducing over 75 premium WooCommerce extensions, sourced from its acquisition of SkyVerge. This enhancement boosts the value of these plugins from $3,000 to nearly $6,000 at no cost to customers. The updates include features like support for multiple payment processors, improved product reviews, and advanced security options. Additionally, GoDaddy has streamlined the site construction process, enabling faster setup for web designers and developers.
GoDaddy has priced an offering of $800 million in 3.500% senior notes due 2029. The notes will be issued by Go Daddy Operating Company LLC and GD Finance Co, Inc., closing on February 25, 2021. Interest will be paid semi-annually starting September 1, 2021. The proceeds will support general corporate purposes, including working capital and potential acquisitions. The notes may be redeemed under specified conditions, with an option for holders to require repurchase upon certain change of control events.
GoDaddy Inc. (NYSE: GDDY) announced its intention to offer $800 million in senior notes through an institutional offering. The Notes will be senior unsecured obligations guaranteed by existing credit facility entities. Proceeds will be used for general corporate purposes, including working capital and potential acquisitions. This offering does not constitute a sale or solicitation in jurisdictions where it would be unlawful, as the Notes are not registered under the Securities Act.
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