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Hosting and web domain-registration company GoDaddy made its debut today on the New York Stock Exchange under the symbol GDDY, with shares becoming available at $26.15, up about 30.8 percent from the $20 price at which the company sold shares for its initial public offering.
The debut price is also higher than the $17-19 range that GoDaddy set for its stock shares two weeks ago.
The appearance of GoDaddy on public markets follows several other tech IPOs in recent months, including Box (NYSE: BOX), Hortonworks (NASDAQ: HDP), Lending Club (NYSE: LC), New Relic (NYSE: NEWR), and Workiva (NYSE: WK).
GoDaddy sought to go public back in 2006, but that campaign fizzled out as market conditions changed. This time around, though, it’s “go time,” to use the company motto.
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GoDaddy, based in Scottsdale, Arizona, and 18 years old now, isn’t exactly in perfect financial condition.
“We had net losses on a GAAP basis of $279 million, $200 million, and $143 million in 2012, 2013, and 2014, respectively,” as the company put it in a revised S-1 filing with the U.S. Securities and Exchange Commission.
And back in 2011, private equity groups KKR, Silver Lake, and TCV paid a reported $2.25 billion for a controlling interest in the company.
Then again, last year the company generated $1.38 billion in revenue, and it now counts nearly 13 million customers.
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