Godaddy is planning an preliminary public providing early next year that may price the arena’s largest supplier of net addresses at roughly $4.5 billion, the new York submit stated.
Godaddy, backed through KKR & Co and Silver Lake management LLC, first filed to go public in June.
Chief financial officer, Scott Wagner, met with analysts final week to offer an update on the company and wired godaddy’s need to diversify to compete with competitors, the post stated, citing a source.
Godaddy and other web domain registration providers are beneath pressure after Google started trying out a site registration carrier in June this year.
Godaddy and KKR declined to touch upon the report. Silver Lake didn’t straight away respond to calls in search of remark.
GoDaddy seeking $4.5 billion valuation IPO early next year: Report
Earlier this year, godaddy filed for IPO of up to $one hundred million. Morgan Stanley, J.P. Morgan and Citigroup are the lead underwriters for the IPO, the company advised the united states securities and alternate fee in a preliminary prospectus. Godaddy, which had 12 million customers as of March 31, didn’t specify the exchange it intends to checklist on or the symbol it could adopt.
The company’s other personal equity owners embrace expertise Crossover Ventures with a few 12.6 percent stake.
Godaddy is led by means of Blake Irving, who also served as chief product officer at Yahoo from 2010 to 2012.