Go Daddy Said to Pick Morgan Stanley, JPMorgan for 2014 IPOCristina Alesci and Leslie Picker
Go Daddy Operating Co., the website registration and hosting company, has picked Morgan Stanley and JPMorgan Chase & Co. to manage an initial public offering this year, people with knowledge of the matter said.
Go Daddy, based in Scottsdale, Arizona, is aiming to be public in the fall, one of the people said, asking not to be identified discussing private information. The size of the offering hasn’t been determined, the people said.
The company, which has raised its profile in recent years with an advertising campaign featuring celebrities like race-car driver Danica Patrick and Israeli model Bar Refaeli, is enjoying high levels of customer retention and strong subscriber growth, according to Moody’s Investors Service. Chief Executive Officer Blake Irving said in a July interview that sales could reach $5 billion in two or three years.
Investment firms KKR & Co., Silver Lake Management LLC and Technology Crossover Ventures bought a stake in Go Daddy in July 2011, in a deal valuing the company at $2.25 billion, a person familiar with the matter said at the time.
The company filed to go public in 2006 and withdrew the plans within months, citing unfavorable market conditions.
Tasha Pelio, a spokeswoman with JPMorgan, and Mary Claire Delaney, a spokeswoman at Morgan Stanley, declined to comment on their firms’ involvement in Go Daddy’s IPO. Elizabeth Driscoll, a spokeswoman for Go Daddy, also declined to comment.