Feeds

Go Daddy in the hands of private equity giants

A bad day for elephants

Security for virtualized datacentres

Domain name and web hosting giant Go Daddy has confirmed that it has entered into a strategic partnership with venture capital firms KKR, Silver Lake and Technology Crossover Ventures.

Go Daddy CEO and founder Bob Parsons said the investors were selected because of their technology expertise and understanding of online businesses.

“We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth," he said in a boilerplate statement on Go Daddy's website.

The value or terms of the transaction were not disclosed but the buyers are believed to be paying around US$2.25 billion, as previously reported.

Parsons has insisted that the transaction is not a sale but a partnership that is reinvesting in Go Daddy, which will include the expansion of its current services, a move into cloud-based services and the rapid expansion of its international presence.

Founded in 1997, Go Daddy serves more than 9.3 million global customers and manages more than 48 million domain names.

The company has been looking for investors since last year when its board hired Qatalyst Partners to explore a potential sale. The company had also planned an IPO in 2006 but withdrew its bid due to poor market condition and Parsons' struggle to meet the quiet-period rules set by the Securities and Exchange Commission.

Silver Lake MD Greg Mondre, said "Go Daddy is powerfully positioned for future growth as it continues to innovate and add to its truly unique platform of cloud-based software and services. At the same time, we plan to maintain and augment all of the attributes that have made Go Daddy a clear market leader today, including world class customer support and competitive pricing for its 9.3 million customers."

Silver Lake’s stake in Go Daddy joins the ranks of its serial technology investments which include Groupon, Zynga and Skype.

It is unclear how much Parsons will make out of the investments but is set to become executive chairman of the company after the sale closes and will remain a large stakeholder. Parsons is probably best known for attracting the wrath of animal lovers and activists globally for his hunting antics. Earlier this year he posted a video on the Go Daddy video blog (which subsequently went viral) of a hunting trip to Africa where he hunted down and killed an elephant, which then got carved up for meat

“Each year I go to Zimbabwe and hunt problem elephants. It's one of the most beneficial and rewarding things I do. This video shows a typical day of this year's trip,” he posted in April. Despite a global backlash he has not removed it from the website.

Security and trust: The backbone of doing business over the internet

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.