Boston, MA 04/10/2014 (wallstreetpr) – If market grapevine is to be believed then Go Daddy Operating Co., which is the largest domain registration and web hosting space provider, has decided to appoint Morgan Stanley (NYSE:MS) and JPMorgan Chase & Co. to co-manage its initial public offering which is scheduled to hit the markets later this year , as per people close to the deal. This is interesting as the company had originally filed for going public in 2006 but withdrew within months citing adverse market conditions.
The web hosting provider based out of Scottsdale, Arizona is yet to identify how much it is going to raise from its IPO. Neither is there any confirmation that whether it would be the company itself which would be divesting stocks or would it be the private equity firms Kohlberg Kravis Roberts , Silver Lake Management LLC and Technology Crossover Ventures, either one or all of them who are selling their stock. The consortium of private equity firms mentioned here had bought stake in Go Daddy in July 2011 in a deal which valued the company at $2.25 billion.
Morgan Stanley (NYSE:MS), which was earlier best known for scantily clad models in its advertisements has since then turned over a new leaf under the current CEO Blake Irving. The ex- Yahoo executive, who took over the job of the Chief Executive Officer in 2012 has been enjoying high levels of customer satisfaction which is being reflected both, in their customer retention stats as well as good numbers in new subscribers, as per a report released by Moody’s Investor service. The Moody’s report pegs Go-Daddy’s revenues close to $ 1 billion, which according to CEO, Blake Irving is expected to reach close to $ 5 billion in the next two to three years. As an aside the company has also improved its Ad campaign with Danica Patrick and Bar Refaeli gracing the company’s latest advertisements.
