GoDaddy Inc - GDDY STOCK NEWS

GoDaddy's 2023 Sustainability Report highlights the company's commitment to inclusivity and pay parity. Chief People Officer Monica Bailey emphasizes their mission to empower entrepreneurs and create an inclusive work environment. Notable achievements include attaining pay parity based on gender globally and ethnicity in the U.S., maintaining gender representation, and increasing representation of people of color. GoDaddy also saw significant gains in women in leadership and people of color in tech roles. Four new members joined the Executive Leadership Team through internal promotions, bringing diverse perspectives. The company continues to focus on mitigating bias and enabling equity in hiring, performance evaluations, compensation, and promotions.

Pittsburgh is experiencing a surge in microbusinesses, with Black women leading the charge.

Since the pandemic began in March 2020, 39% of new microbusinesses have emerged, and Allegheny County now hosts over 167,000 such businesses, nearly tripling since 2019.

Microbusinesses create approximately seven jobs each, contributing significantly to local employment and economy.

However, many entrepreneurs face challenges such as funding and lack of awareness of business assistance programs.

Organizations like Catapult Greater Pittsburgh help by providing resources and training. Venture Forward’s research shows Black women entrepreneurs have nearly doubled in Allegheny County since 2020, making significant economic contributions.

Digital presence is crucial, with 47% of women entrepreneurs operating online and many relying on their websites for sales and bookings.

GoDaddy's 2023 Sustainability Report highlights the company's commitment to innovation and customer focus through controlled experimentation and technological advancements. In 2023, GoDaddy conducted over 1,700 controlled experiments, a 33% increase from 2022, to develop integrated customer solutions. The company held 11 Experimentation Showcases where teams presented and reviewed innovative experiments. GoDaddy's Tech Manifesto, emphasizing principles like simplicity and connected data, was updated to incorporate emerging GenAI technology, enhancing transparency and collaboration through Tech Radar.

GoDaddy's 2023 Sustainability Report emphasizes its commitment to excellent customer experience and personalized support. In 2023, GoDaddy served 21 million customers, facilitated 8.5 million voice conversations, and engaged in nearly 5 million text interactions. The company received multiple awards, including the Stevie Bronze Award for Customer Service Team of the Year and the Stevie Gold Award for Sales and Customer Service. GoDaddy's customer service efforts are driven by dedicated GoDaddy Guides and a range of support channels, earning a Trustpilot score of 4.7 out of 5.0. Looking forward to 2024, GoDaddy plans to enhance customer engagement efficiency and leverage GenAI platforms.

GoDaddy celebrates Asian Heritage Month by highlighting Manoj Kumar Rajasekar, a Software Development Engineer III who joined GoDaddy two years ago. Rajasekar is actively involved in GD Asians, an Employee Resource Group (ERG) focused on supporting Asian, Native Hawaiian, and Pacific Islander communities within the company. One of his proudest moments at GoDaddy is the successful migration of a product from Cloud UI to PCP. Rajasekar draws inspiration from prominent Asian figures such as Microsoft CEO Sathya Nadella and emphasizes the importance of continuous learning and hard work. The company encourages employees to explore the diverse aspects of Asian heritage.

GoDaddy's recent publication explores the phenomenon of impostor syndrome, a psychological issue characterized by self-doubt and feelings of inadequacy despite evident success. Affecting a significant portion of the adult population, impostor syndrome can cause anxiety, depression, and hinder personal and professional growth. The post details five types of impostor syndrome: The Perfectionist, The Superhero, The Natural Genius, The Soloist, and The Expert, each with distinct traits. Insights from graduates of GoDaddy's Empower program highlight personal experiences and strategies to overcome this condition, such as recognizing achievements, practicing self-compassion, setting realistic goals, and seeking support from mentors and peers.

GoDaddy's 2023 Sustainability Report highlights its commitment to inclusive entrepreneurship. The Empower by GoDaddy program, launched in 2017, supports underserved communities through education, mentorship, and networking. In 2023, it served nearly 2,900 entrepreneurs with over $1 million in funding. The Venture Forward initiative, surveying over 30,000 entrepreneurs since 2018, provides critical data on microbusinesses, noting that 1/7 of pandemic-era microbusinesses were founded by Black women. New initiatives include the acquisition of the .gay domain to support LGBTQIA+ communities. Future plans involve expanding support to more communities and enhancing program metrics.

GoDaddy has expanded its Small Business Generative AI (GenAI) Prompt Library, initially launched last year, to offer over 185 prompts with new features and languages. The upgraded library aims to help small business owners leverage GenAI for growth and operational efficiency. Key additions include updated prompts that ask user-specific questions, a clip-to-copy icon for easier transfer, and 43 new prompts in categories like ad campaigns, branding, data analysis, loyalty, and PR. GoDaddy also broadened access to the library in India, Mexico, Colombia, Spain, and Brazil, providing support in Spanish and Portuguese.

GoDaddy announced a refinancing move involving a $1,000 million tranche of term loans maturing in 2031. The refinancing aims to extend the maturity of its Tranche B-4 and up to $278 million of its Tranche B-6 term loans under an amended credit agreement.

The new term loans are expected to close in Q2 2024, although successful completion is not guaranteed.