14 DAY TRIAL // Go Daddy, the domain registrar and web hosting company, has announced that it is entering a partnership with several private equity companies which will now own a stake in the company. Contrary to some initial reports, Go Daddy was not acquired, Bob Parsons, CEO and founder, will retain a stake in the company.
"[Go Daddy] announced it has signed a definitive agreement to receive a strategic investment and enter into a partnership with KKR, Silver Lake and Technology Crossover Ventures," the company said in a statement.
While the figures involved were not revealed, it is rumored that the investors paid $2.25 billion in the deal, for a large but unspecified stake in the company.
"I've always said we would make a move like this when the right deal with the right partners could help us do the right thing for our customers and our employees," Parsons said.
"This is it! We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of Web based businesses and because their values align with ours," he added.
Go Daddy plans to expand its business further, grow its current services but also move into cloud-services. It also wants to expand its international market.
"We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth," he hinted at the reason behind the need for an influx of cash.
Go Daddy is best known as the largest domain name registrar, but also offers hosting services. Its 9.3 million users have registered over 48 million domains with the company so far.
The company is also known for its sometimes risque advertising and the Go Daddy Girls, a rather old-school approach for an internet company. Whether this helped or hindered the company is debatable, but it is the largest registrar regardless.