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 Empower Baltimore program launches to support local microbusinesses by enhancing their web presence. In partnership with Impact Hub Baltimore, the initiative offers programming, mentorship, and free GoDaddy products, including domains and websites. The program will host five cohorts throughout the year, with a review process for applicants. Additionally, storytelling events will spotlight Baltimore's creative communities. The first launch event is scheduled for Feb. 17 at Baltimore Center Stage. GoDaddy aims to empower over 150,000 microbusinesses in the area, promoting local economic growth.
GoDaddy Inc. (NYSE: GDDY) will release its financial results for the fourth quarter and fiscal year 2021 on February 10, 2022, after the market closes. Following the release, there will be a conference call at 5:00 p.m. ET, accessible via registration. Additionally, GoDaddy will host a virtual investor day on February 11, 2022, at 1:00 p.m. ET, featuring presentations on its long-term strategy and financial framework.
GoDaddy Inc. (NYSE: GDDY) announced that Roger Chen has been appointed as Chief Operating Officer, effective January 3, 2022. CEO Aman Bhutani praised Chen's leadership and operational excellence, highlighting his successful tenure as President of the Domain Registrars and Investors business. Chen has been with GoDaddy since 2015, rising through various leadership roles in the Asia Pacific region. GoDaddy continues to empower entrepreneurs globally by providing tools and resources to succeed online.
GoDaddy Inc. (NYSE: GDDY) announced its definitive agreement to acquire Pagely, a leader in Managed WordPress since 2009. This acquisition aims to leverage Pagely's platform expertise to enhance GoDaddy's WooCommerce SaaS offerings, targeting elevated reliability and scalability. WooCommerce powers 94% of WordPress eCommerce stores, positioning GoDaddy to further empower small businesses. Despite the acquisition, Pagely will maintain its Managed WordPress services for enterprise clients. This move reflects GoDaddy's commitment to improving the WordPress ecosystem.
GoDaddy Inc. (NYSE: GDDY) reported Q3 2021 financial results, showing total revenue of $964 million, up 14.2% year-over-year. Domains revenue rose 17%, and business applications revenue grew 20.4%. The company launched its OmniCommerce solution and reported an annualized gross merchandise volume of approximately $25 billion, a nearly 30% increase. GoDaddy raised its full-year revenue guidance to $3.765 billion and expects Q4 revenue around $970 million. Operating cash flow reached $226 million, supporting a share repurchase of 3.4 million shares.
GoDaddy Inc. (NYSE: GDDY) will hold an Investor Day in February 2022 to discuss its long-term strategy and financial framework. The company will also release its third quarter financial results on November 3, 2021, after market close, followed by a conference call and webcast at 5:00 p.m. Eastern Time.
Details on the event logistics will be shared soon. GoDaddy empowers entrepreneurs by providing tools and resources for online success.
GoDaddy (NYSE: GDDY) has launched two new point of sale (POS) devices: the Smart Terminal and Card Reader, aimed at small businesses to enhance their sales capabilities. This expansion of GoDaddy Payments enables businesses to manage online and offline sales efficiently, with a pricing structure that features low transaction fees. The Smart Terminal costs $249 and includes a built-in printer, while the Card Reader is priced at $49, designed for mobile transactions. These innovations aim to empower over 60% of GoDaddy's 20 million customers who operate both online and offline.
GoDaddy (NYSE: GDDY) hosted an online event, GoDaddy OPEN 2021, aimed at educating small business owners. A highlight was a fireside chat with Naomi Osaka, who discussed her entrepreneurial journey and her skincare brand, KINLÒ, launched in partnership with GoDaddy. KINLÒ's online store saw rapid success, selling out its Hydrating Eye Cream within 48 hours and the Golden Ritual Skincare Kit shortly after. GoDaddy's integrated payments solution powers KINLÒ, underscoring its commitment to supporting entrepreneurs. The event showcased GoDaddy's role as a facilitator for budding businesses.
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