GoDaddy, a leading provider of web registration and hosting services with 57 million managed domains, filed on Monday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely a placeholder. We estimate it could raise $750 million or more. In 2011, the company was bought by a group of private equity firms led by KKR and Silver Lake for $2.3 billion (about half debt and half equity).
The Scottsdale, AZ-based company was founded in 1997 and booked $1.2 billion in sales for the 12 months ended March 31, 2014. Morgan Stanley, J.P. Morgan and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
