|
|||||||||||||||||||||||||
|
|||||||||||||||||||||||||
|
The Go Daddy Group Withdraws IPO Registration StatementAugust 9, 2006; 12:53 AM The Go Daddy Group, Inc. announced that the company has withdrawn
its Registration Statement on Form S-1 with the Securities and Exchange
Commission and has determined not to proceed with the registration and
sale of its Class A common stock at this time. No shares of the
Company’s Class A common stock have been sold pursuant to the
Registration Statement. “Go Daddy has decided not to proceed
with an IPO at this time due to adverse market conditions. With a war
and escalating hostilities throughout the Middle East, skyrocketing oil
prices and technology stocks once again taking a beating on Wall Street
− now just isn't the right time for us,” said Bob Parsons, CEO and
founder of The Go Daddy Group, Inc. Today, in addressing most
of his 1,200-plus employees, the outspoken CEO referenced numerous
articles recently published in The Wall Street Journal, The New York
Times and USA Today – all pointing to the recent poor performance of
initial public offerings in general, and of technology stocks, in
particular. Parsons added, “We are fortunate to control our
own destiny. Moving forward, we plan to continue to focus our efforts
on growing our business and taking care of our customers, as we have
always done. The withdrawal of our registration statement does not
change the overall fundamentals of Go Daddy’s business, which remain
quite strong.” Go Daddy is having its best year in the
company’s nine-year history. Go Daddy now has more than 14.7 million
domain names under management. Just last week,
www.NameIntelligence.com, a leading industry analyst group, reported
that The Go Daddy Group’s portfolio is twice the size of its closest
competitor. Go Daddy also offers a variety of products and
services for Internet users, including Web site hosting. According to
www.Netcraft.com, another industry analyst, Go Daddy is North America’s
largest hosting provider. To see Parsons’ blog detailing his
decision to withdraw the IPO, visit www.BobParsons.com. Parsons will
also return to host his weekly radio show, www.LifeOnline.com, tomorrow
night. About The Go Daddy Group, Inc. |
Related Press Releases and Features | |
|
|
Copyright © 1998 - 2018 DevStart, Inc. All Rights Reserved |