After a fairly successful year, GoDaddy released details about its IPO on Tuesday. Current estimates from underwriting sources point to the web hosting service's worth coming somewhere near $4.5 billion, or about $20 a share. This is significantly more than earlier estimates guessed, which averaged at somewhere between $17 and $19.
"At this price, the IPO would raise $440 million. A GoDaddy spokesman did not immediately respond to a request for comment.....Shares in GoDaddy are expected to start trading on Wednesday and list on the New York Stock Exchange under the symbol 'GDDY'," Reuters reported.
GoDaddy has filed for an IPO in the past, having done so in 2006 before quickly withdrawing the filing, citing unfavorable market conditions. Reuters noted that 2006 was the same year that Google launched its free Web hosting service, Google Page Creator, which was a clear and present rival for GoDaddy.
GoDaddy's incoming revenue has risen about 52 percent since 2012, and is currently valued at about $1.4 billion. However, the net loss has only narrowed to $143.3 million in 2014, from $279 million in 2012.
The company also had about $1.3 billion in long term debt on an adjusted basis at the end of December.
Endurance International Group, the parent company of Bluehost is one of the main competitors in the web hosting industry. GoDaddy isn't the only company to go public in 2015. Dozens of major tech companies are expected to either go public or release their IPOs this year, including Pinterest, Spotify, Uber, DropBox, Airbnb and more.
Morgan Stanley, JP Morgan Securities and Citigroup are the lead underwriters for GoDaddy's IPO. GoDaddy isn't the only company to go public in 2015.
