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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 (NYSE: GDDY) has announced a definitive agreement to acquire Poynt for $320 million in cash at closing, plus $45 million in deferred payments tied to performance. The transaction aims to enhance GoDaddy's commerce services by integrating Poynt's advanced point-of-sale technology, addressing the growing need for small businesses to merge online and offline sales channels. Poynt currently supports over 100,000 merchants with more than $16 billion in annual Gross Merchandise Volume. The acquisition is expected to finalize in Q1 2021, pending regulatory approvals.
GoDaddy (NYSE: GDDY) has launched GoDaddy Corporate Domains, a comprehensive domain management solution tailored for large companies. This initiative follows the acquisition of Brandsight in February 2020. Corporate domain portfolios often consist of many domains, complicating management and oversight. GoDaddy Corporate Domains aims to streamline this process, providing clients with valuable data insights, cost containment strategies, and advanced security solutions. Additionally, GoDaddy introduced the Verified Intellectual Property (VIP) program to assist well-known brands in addressing IP abuse.
GoDaddy Inc. (NYSE: GDDY) reported Q3 2020 results with revenue of $844.4 million, up 11.0% year-over-year, and net income of $65.1 million. The company achieved a record of over 1 million net new customers this year, marking the largest increase in its history. Unlevered free cash flow rose 17.0% to $223.9 million. Despite a 1.4% decline in cash from operations, GoDaddy expects to generate approximately $865 million in revenue for Q4, representing 11% growth. The company also announced the departure of COO Andrew Low Ah Kee.
GoDaddy Inc. (NYSE: GDDY) is set to release its third-quarter financial results on November 4, 2020, after market close. The company will conduct a conference call at 5:00 p.m. Eastern Time to discuss these results. Interested participants can register for the call through a provided link and access a live webcast on GoDaddy's investor relations website. With a global customer base of 20 million, GoDaddy aims to empower entrepreneurs with tools for online success.
GoDaddy announced that its Over app is now available in 12 new languages, enhancing accessibility for small businesses globally. The app helps users create professional visual content for various online platforms, catering to entrepreneurs in over 150 countries. With features like customizable templates and thousands of graphics available, Over aims to foster brand engagement. GoDaddy's Vice President highlighted the app's growing adoption as businesses increasingly shift online.
GoDaddy (NYSE: GDDY) announced the integration of its content design app, Over, into its Websites + Marketing platform, enhancing tools for entrepreneurs and small businesses. Users can now access a library of customizable photo and video templates directly within the website builder. This feature aims to simplify the creation of professional content, enabling users to design ads, logos, and social media posts effortlessly. The Over app remains available as a standalone option on major app stores, catering to users across all marketing tiers.
GoDaddy (GDDY) has expanded its Websites + Marketing Ecommerce by enabling customers to sell products directly on Instagram and Facebook. This integration allows automatic syncing of product details across platforms, streamlining inventory management and order fulfillment. As a Facebook Marketing Partner, GoDaddy helps small businesses reach customers where engagement is highest. Upcoming features include integration with Instagram Checkout and enhanced onboarding for Facebook Shops. The initiative supports entrepreneurs by providing tools to manage multiple online sales channels efficiently.
On September 14, 2020, GoDaddy (NYSE: GDDY) announced its acquisition of SkyVerge, a prominent WooCommerce product developer. This strategic move aims to enhance GoDaddy's WordPress capabilities and improve eCommerce solutions for entrepreneurs. SkyVerge offers over 60 extensions for WooCommerce, utilized by 100,000 merchants, highlighting its significance in the eCommerce space. GoDaddy's acquisition is expected to bolster its offerings and support its commitment to empowering everyday entrepreneurs online.
The GoDaddy Global Entrepreneurship Survey reveals the significant impact of the COVID-19 pandemic on microbusinesses, with 75% reporting revenue declines. Despite these challenges, many entrepreneurs are optimistic, with 70% expecting recovery within a year and 63% anticipating growth of at least 25% in the next 3-5 years. The survey of 5,265 businesses from ten countries shows resilience among very small business owners, with only 6% deeming their operations unsustainable. Notably, those with a website showed stronger recovery prospects, highlighting the importance of an online presence.
GoDaddy Inc. (GDDY) reported strong Q2 2020 financial results, with revenue reaching $806.4 million, up 9.4% year-over-year. Net cash from operations was $168.1 million, and unlevered free cash flow rose 10.8% to $185.9 million. The company settled its Tax Receivable Agreements for $850 million, reducing future tax obligations by approximately $1 billion. GoDaddy expects Q3 revenue of $835 million, aiming for a 10% annual growth rate. Total cash at the end of June stood at $772.7 million.
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