Who's Sorry Now?
Interesting investment news - GoDaddy, the web domain company, pulled it's IPO. Guess the term "booming economy" means something different than it did during the go-go IPO days of 1999 - 2000.
Interesting investment news - GoDaddy, the web domain company, pulled it's IPO. Guess the term "booming economy" means something different than it did during the go-go IPO days of 1999 - 2000.
GoDaddy (and its "spokes"-woman) can't sustain IPO momentum
There may not be a scantily clad model dancing in front of a congressional panel, but the explanation of why the CEO of GoDaddy.com pulled his company's IPO filing is worth a look if you want to better understand why the market for technology IPOs is so challenging.
Here are Bob Parsons' three main reasons for scrapping GoDaddy.com's IPO for now:
1. Market conditions - They're tough.
2. The Quiet Period - It's difficult for Parsons to stay quiet for a day, let alone a couple month.
3. We don’t have to go public - Parsons owns the whole company.
GoDaddy is probably best known for its advertisments during the Super Bowl featuring a woman "testifying" in front of a mock Congressional panel. To just about anyone that owns a domain name, though, the company is known as a cheap and easy-to-navigate place to register domains and buy other basic Internet-related services.
I don't know if Parson brought the GoDaddy model along on the roadshow to meet with prospective investors, but according to the video below, it may have proven to be an effective sales technique. Judge for yourself. Here's the video ad
