Domain name registrar and Web hosting provider GoDaddy, announced it has agreed to receive a strategic investment from private equity firms KKR, Silver Lake and Technology Crossover Ventures.
The terms of the transaction were not disclosed, but the Wall Street Journal reported people familiar with the deal saying it could be worth approximately $2.25 billion. Its likely that founder Bob Parsons has cashed out a large chunk of his shares in the company, and kept a minority stake.
The Scottsdale, Arizona based company which has built its marketing around scantily-clad women, including racing superstar Danica Patrick, manages more than 48 million domain names. The Company offers more than 50 product lines including, Web hosting, Web site creation services, secure SSL Certificates, and more.
“I’ve always said we would make a move like this when the right deal with the right partners could help us do the right thing for our customers and our employees,” said Go Daddy CEO and Founder Bob Parsons. “This is it! We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of Web based businesses and because their values align with ours. We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth.”
“For years, we have admired what Bob and the team have built with Go Daddy. We are excited to invest in the business and contribute to its continued success,” said Will Griffith, General Partner at Technology Crossover Ventures.
In 1994, Parsons sold his previous company, Parsons Technology, to Intuit for $64 million.