GoDaddy, the leading provider of web registration and hosting services with 59 million domains, announced terms for its IPO on Thursday. The Scottsdale, AZ-based company plans to raise $396 million by offering 22.0 million shares at a price range of $17 to $19. At the midpoint of the proposed range, GoDaddy would command a fully diluted market value of $3.0 billion.
GoDaddy, which was founded in 1997 and booked $1.4 billion in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol GDDY. Morgan Stanley, J.P. Morgan, Citi, Barclays, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of March 30, 2015.
