Go Daddy Group Inc, the big daddy of domain name registrar has now been sold to a group of private equity firm for 2.25 Billion, Techie Buzz has learned.
The buyers include KKR &Co, Silver Lake partners, Technology Crossover Ventures and a couple of more investors; the deal was finalized on Friday afternoon, according to a report from LA Times.
In a press conference earlier today, CEO Bob parsons said that he was looking forward to the deal for some time and this acquisition will help the company grow and serve more value to it’s customers and people using their services.
Bob added that Go Daddy wants to go to the Next leveland the company partnered with the firms because of their technological expertise and better understanding of a web based business.
Go Daddy is the world’s largest and one of the most trusted domain registrars till date. Most internet companies and cloud based business prefer choosing Go Daddy for the reputation they hold. And not just domain names, Go Daddy has seen massive growth in web hosting, e commerce and other services during the last couple of years. The company now manages more than 48 Million domain names and has a huge global user base of 9.3 million customers
Now that Go Daddy has been acquired, what changes are expected in the coming days? Will customers see a rise in domain registration price or web hosting fees? If business strategies take a steep turn, it won’t be long enough when the investors start losing edge because Go Daddy is known for it’s offers and deals. It may also happen that competitors follow suit, but the latter scenario is not so strong.
Go Daddy was established by Bob Parsons in 1997 and he continues to be the operating CEO.