Web hosting company GoDaddy valued at $5.5bn after IPO – 04/20/2015

Shares in Web hosting company, founded by billionaire Bob Parsons, floated at $20 a share before quickly rising as high as $26.80. That values the company at $5.5bn, including debt.

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The Web hosting company, best known for its highly controversial Super Bowl ads, raised $460m by selling 23m shares.

Shares in GoDaddy are expected to be listed on the NYSE under the ticker symbol ‘GDDY’.

Arizona-based GoDaddy was founded in 1997 as Jomax Technologies before changing its name. GoDaddy claims that it is the world’s largest domain name registrar with 59 million domains under management and 13 million customers.

Having achieved strong growth as small businesses increasingly went online, GoDaddy first filed to go public in 2006, but later stalled the plan. It submitted a new IPO plan in 2014.