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The 2014 IPO market keeps churning out newly public companies, and this time it's the GoDaddy IPO that's grabbing headlines.
A Wall Street Journal report last week citing multiple unnamed sources close to the company states that GoDaddy is in the process of hiring underwriters. That would position the company for an initial public offering toward the end of 2014.
GoDaddy is an Internet company that helps clients design and build their own websites. The company also offers web-hosting services and domain-name registration.
GoDaddy touts more than 12 million customers worldwide in its web-hosting business, and the company manages more than 57 million domain names.
Back in 2011, GoDaddy was purchased for $2.25 billion by KKR Co., Silver Lake, and Technology Crossover Ventures. Three years later, the company should reach a much higher valuation in its initial public offering.
The company has not released financial information yet, but Standard & Poor's Rating Services reported in January that it expects GoDaddy's cash profits to grow by a "high-single-digit percentage rate" this year. The same report also states that cash profits will grow at a slower rate, because the company will be investing in its growth.
GoDaddy is reportedly opening additional offices in the United States along with a technology center. The company also plans to expand its international offerings.
This is the second IPO attempt for the company that first gained notoriety for its Super Bowl ads featuring bikini-clad models. Back in 2006 the company had an IPO filed, but withdrew the deal, blaming unfavorable market conditions.
There's still plenty of information to come regarding the GoDaddy IPO, but for now, here are some factors for investors to watch…
GoDaddy Joins Crowded Tech IPO Field
While it has yet to officially file for an initial public offering, GoDaddy should join one the most crowded IPO markets in recent memory. According to research firm Renaissance Capital, 45 IPOs have already been priced. That's up 96% from this time last year.
And many of the companies that have filed for IPOs in 2014 are from the tech industry.