Go Daddy Operating Co. CEO Blake Irving said that the company is looking to sell its shares in a public offering early next year. Go Daddy Operating Co., with headquarters in Scottsdale, Arizona, is set to generate an estimated US$13 billion in revenue this year. The company is forecasting that they intend to raise US$5 billion in annual revenues within the next two years.
"The growth we are seeing positions us very well to be a public company," Irving said. "We could go public today. But I want to demonstrate that execution against my strategy is happening."
Go Daddy is a privately owned company which offers internet domain registration and web hosting services. Go Daddy Operating Co said that they are planning to ride the wave of successful IPO's by web-based technology companies. Blake Irving said that Go Daddy can raise an estimated US$6 billion through an initial public offering. The revenue that the company will raise will boost the company's projected sales growth.
"There would be strong demand," Tom Taulli, founder of Los Angeles-based IPOPlaybook.com, said in an interview. "Go Daddy is a known brand, a top player in its market, and cloud IPOs have been red hot."
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