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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 emphasizes the importance of ethical and responsible use of generative artificial intelligence (GenAI) in its newly released 2023 Sustainability Report. The report highlights how small businesses can leverage GenAI for innovation while safeguarding against risks like misinformation and algorithmic bias. A January 2024 survey of over 500 U.S. small business owners shows a growing adoption of GenAI, with 89% not worried about its negative consequences. Key principles for responsible AI include fairness, transparency, accountability, and privacy. Practical steps are recommended for ethical AI use, such as avoiding sensitive data entry and manually reviewing AI-generated content. GoDaddy's Empower program supports entrepreneurs in underserved communities by providing digital tools and AI education. Launched in 2023, GoDaddy Airo uses GenAI to assist entrepreneurs in building their online businesses. An AI governance council oversees the ethical implementation of these technologies.
GoDaddy's 2023 Sustainability Report highlights the company's efforts to enhance employee experience through career development, competitive compensation, and an inclusive culture.
The report emphasizes initiatives like inclusive recruitment practices, fair performance reviews, and promotion parity, with partnerships aimed at supporting diversity.
Employee engagement is fostered via programs like GoDaddy Fun Fund and Everyday Champions, while learning and development opportunities are provided through various summits, workshops, and digital courses.
Leadership training is prioritized with dedicated programs for new and existing managers.
The company also focuses on employee wellness, offering comprehensive benefits, mental health support, and professional development funds.
In 2023, GoDaddy employees contributed over 4,600 volunteer hours and nearly $1 million in donations, reflecting the company's commitment to community and inclusive entrepreneurship.
GoDaddy's 2023 Sustainability Report highlights the company's ongoing commitment to pay parity. For the ninth consecutive year, GoDaddy achieved global gender pay parity, and for the seventh year, ethnicity pay parity in the U.S. The report states that women earn $1.00 for every $1.00 a man earns at the company level. For U.S. employees, individuals of color earn $1.01 for every $1.00 earned by white employees. Despite these milestones, discrepancies exist in specific roles and demographics, with non-binary employees making $0.97 and certain ethnic groups like American Indians earning $0.96 compared to their peers.
June marks Pride Month, a period celebrating the LGBTQIA+ community's diversity, love, and acceptance while reflecting on their struggles and achievements. Originating from the 1969 Stonewall Uprising, Pride has evolved from protests to lively parades and events. Today, it reminds us of the ongoing fight for equality and the progress made. Suggestions for involvement include attending local Pride events, educating oneself on LGBTQIA+ history, supporting related organizations, amplifying LGBTQIA+ voices, and being an ally. Emphasizing diversity and love, Pride Month honors past progress and recommits to future equality.
Srinivasa Rao Sharma, a Senior Business Analyst II at GoDaddy, shares his journey from Chennai, India, to the US, where he pursued a graduate degree at Purdue University. Starting at GoDaddy in 2022, Srini has optimized data products and dashboards, significantly impacting business performance. He emphasizes the importance of Asian Heritage Month in recognizing cultural diversity and fostering workplace inclusion. Srini also highlights his inspirations and personal mantras that guide his professional and personal life.
GoDaddy's 2023 Sustainability Report emphasizes its commitment to diversity and representation. The company highlights the importance of diverse teams in fostering innovation and customer loyalty. Key statistics include that 37.5% of its Board of Directors are ethnically or racially diverse, and 37.5% are women. Globally, women make up 30% of GoDaddy's workforce, with 32% in leadership roles and 21% in technical positions. In the U.S., 38% of employees are people of color, up 1% from the previous year. The report also notes the internal promotion of four new Executive Leadership Team members in 2023. GoDaddy aims to maintain and improve these representation gains despite reduced hiring.
Kay Piotrowski, a Customer Support Specialist II at GoDaddy, shares her journey and experiences since joining the company in 2021. Originally from Phoenix, Kay now lives in Tempe with her wife, child, and pets. She emphasizes the supportive culture at GoDaddy, which allows her to be her authentic self both personally and professionally.
Kay's career at GoDaddy began as a Website Specialist I, and she later transitioned to a Customer Support Specialist II. She is also an active member of the Employee Resource Group (ERG) GD United, which supports the LGBTQIA+ community. Highlights of her time at GoDaddy include winning the Rockstar award for Q3 2023 and participating in virtual events and the Phoenix Pride Parade.
Kay champions GoDaddy's role in empowering small businesses and entrepreneurs, while also pursuing her passions in software development and photography. She encourages allies to support the LGBTQIA+ community by being open and respecting people's authentic selves.
GoDaddy's 2023 Sustainability Report emphasizes a People-Centered Strategy, focusing on Diversity, Equity, Inclusion, and Belonging (DEIB). The report highlights GoDaddy's commitment to fostering an inclusive work environment, maintaining pay parity, and supporting diverse employee representation. Key initiatives in 2023 included developing gender transition resources, launching a DEIB speaker series, and forming a DEIB Steering Committee. The company also signed the CEO Action for Diversity and Inclusion pledge. GoDaddy received recognition in the Human Rights Campaign's Corporate Equality Index and the Women Impact in Tech list.
GoDaddy's latest press release features an interview with Chrisondra Gray, a Supervisor in the Care for Inbound Sales I department. Originally from Illinois, Chrisondra joined GoDaddy nearly 13 years ago and is now instrumental in onboarding and supporting new hires. She shares her journey from having tech confidence to becoming a key player in her department. The company’s supportive culture has allowed her to travel and spend time with family, contributing to her professional and personal growth. Chrisondra highlights the importance of embracing change, being coachable, and stepping out of comfort zones for success at GoDaddy.
GoDaddy featured on 'Tomorrow’s World Today' to highlight its latest innovation, GoDaddy Airo, a platform harnessing generative AI to empower small businesses. The episode aired on the Science Channel, Discovery Channel, and is available for streaming on YouTube and tomorrowsworldtoday.com. Airo helps users create professional websites, manage digital marketing, and expand their online presence quickly and easily. Despite the digital shift, 46% of small businesses in the U.S. lack a website. GoDaddy’s generative AI aims to simplify online setup. Key features include domain name suggestions, customized websites, marketing tools, and content generation. The episode also showcased a customer case study demonstrating Airo's efficiency.
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