Home
Internet
Internet News
Go Daddy, an Internet domain registrar, is sold

Go Daddy, an Internet domain registrar, is sold

By Associated Press | Updated: 15 June 2012 14:40 IST

Highlights

The parent company of GoDaddy.com, a top registrar of Internet domain names, has been sold to a group of private investment firms for $2.25 billion, a person familiar with the transaction told The Associated Press.

The parent company of GoDaddy.com, a top registrar of Internet domain names, has been sold to a group of private investment firms for $2.25 billion, a person familiar with the transaction told The Associated Press.

Go Daddy Group Inc.'s sale to KKR, Silver Lake and Technology Crossover Ventures comes as the company expects to top $1.1 billion in revenue this year because expanding Internet use has fueled the creation of more websites and the "domains" needed to help find them. Go Daddy announced the sale late Friday. A person close to the transaction, who asked to remain anonymous because of not being authorized to speak publicly, told the AP the sale price.

A fact sheet accompanying the release indicated that Go Daddy's revenue has grown by more than 20 percent in each of the past several years.

The Go Daddy Group Inc. was founded in 1997 by Bob Parsons, who continues to serve as its CEO. The company, based in Scottsdale, Ariz., manages more than 48 million domain names, and sells other Internet-related technologies.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.