GoDaddy (GDDY) IPO Opens Up 31%

Today's IPO for GoDaddy Inc. (NYSE: GDDY) opened for trading at $26.15 after pricing 23,000,000 shares of its Class A common stock at a price to the public of $20.00 per share, above the expected $17-$19 range.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as lead joint bookrunners for the offering. Barclays Capital Inc., Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are acting as book-running managers for the offering. KKR Capital Markets LLC, Stifel, Nicolaus & Company, Incorporated, Piper Jaffray & Co., Oppenheimer & Co. Inc. and JMP Securities LLC are acting as co-managers for the offering.

GoDaddy is a leading Internet domain name provider. The company has approximately 13 million customers.

In 2014, GoDaddy generated $1.7 billion in total bookings up from $939 million in 2010, representing a compound annual growth rate, or CAGR, of 16%. In 2014, the company had $1.4 billion of revenue up from $741 million in 2010, representing a CAGR of 17%.

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