GoDaddy Inc., an Internet domain registrar and website hosting company, said it plans to raise up to $418 million in an initial public offering.
In a regulatory filing, GoDaddy said it is offering 22 million shares of its Class A common stock, priced between $17.00 and $19.00 per share. The company has granted underwriters the right to purchase up to an additional 3.30 million shares of its Class A common stock to cover over-allotments.
GoDaddy has been approved to list its Class A common stock on the New York Stock Exchange under the ticker symbol "GDDY."
Founded in 1997 as Jomax Technologies by Bob Parsons, GoDaddy has filed for an initial public offering in June 2014. Earlier in 2006, GoDaddy had filed to go public, however withdrew it, citing unfavorable market conditions.
The Scottsdale, Arizona-based company's IPO comes more than three years after it was acquired by a group led by private equity firms KKR & Co. (KKR) and Silver Lake Management for $2.25 billion in December 2011.
The company is known for its celebrity spokespersons, Super Bowl ads and as being an online provider for small businesses.
Following the IPO, GoDaddy will have 60.82 million shares of Class A common stock and 90.40 million shares of Class B common stock outstanding. At the mid-point of the range, the IPO would value the company at $2.72 billion.
Morgan Stanley, JPMorgan Chase & Co. and Citigroup Inc. are managing the offering.
GoDaddy's net loss for 2014 narrowed to $143.31 million from $199.88 million in the prior year. Total revenue for the year rose to $1.39 billion from $1.13 billion in the previous year.
According to VeriSign's Domain Name Industry Brief, GoDaddy had about 59 million domains under management as of December 31, 2014, representing approximately 21 percent of the world's domains.
At the end of 2014, GoDaddy had about 12.7 million customers. The company noted that about 28 percent of its customers were located in international markets, notably Canada, India and the United Kingdom.
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