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    GoDaddy Inc (GDDY)

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    Business Description

    GoDaddy Inc. is a global leader in providing a comprehensive suite of easy-to-use products and personalized guidance for entrepreneurs, serving as a one-stop shop solution . The company operates through two main segments: Applications and Commerce (A&C) and Core Platform (Core) . GoDaddy sells proprietary software products, including website building and commerce solutions, as well as domain registration, hosting, and security products .

    1. Core Platform (Core) - Offers domain registrations and renewals, aftermarket domain sales, website hosting products, and website security products.
    2. Applications and Commerce (A&C) - Includes sales of proprietary software products such as website building products, commerce products, and third-party email and productivity solutions.

    Key Metrics

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    Executive Team

    NamePositionStart DateShort Bio
    Aman BhutaniChief Executive OfficerSeptember 2019Amanpal (Aman) Bhutani has served as the CEO of GoDaddy Inc. since September 2019. He was previously President of the Brand Expedia Group at Expedia Group, Inc. and has over 20 years of experience in technical and leadership roles .
    Mark McCaffreyChief Financial OfficerJune 2021Mark McCaffrey has been the CFO of GoDaddy Inc. since June 2021. He spent over 20 years at PricewaterhouseCoopers LLP in the Technology, Media, and Telecommunications Sector, holding various leadership roles .
    Roger ChenChief Operating OfficerJanuary 2022Roger Chen has served as the COO of GoDaddy since January 2022. He was previously President of the Company's Domain Registrars and Investors Business and has held various leadership roles within the company since 2015 .
    Nick DaddarioChief Accounting OfficerDecember 2019Nick Daddario served as the Chief Accounting Officer at GoDaddy Inc. from December 2019 until his role was impacted by restructuring on November 6, 2024. He has held several positions in finance and accounting in other companies .
    Jared SineChief Strategy & Legal OfficerMarch 2024Jared Sine has served as the Chief Strategy & Legal Officer at GoDaddy since March 2024. He previously worked at Match Group as Chief Business Affairs & Legal Officer, overseeing various legal and corporate strategy functions .
    Phontip PalitwanonChief Accounting OfficerNovember 6, 2024Phontip Palitwanon was appointed as the Chief Accounting Officer of GoDaddy Inc. on November 6, 2024. She has been with the company for nine years, serving in various finance roles, including Vice President, Finance .

    Questions to Ask Management

    1. Given the unpredictability of large transactions in the aftermarket business and your prudent approach to guidance, what specific strategies are you implementing to drive consistent growth and reduce volatility in this segment?

    2. With your expansion into payments and commerce through new SaaS plans offering discounted transaction fees, how do you plan to maintain margins while competing with established players, and what risks do you foresee in potential margin compression as you scale this business?

    3. Despite overperformance in Q2 margins, your guidance indicates margin compression in Q3; can you elaborate on the factors contributing to this projection and how confident you are in achieving the 31% normalized EBITDA margin in Q4?

    4. Considering your largest markets are English-speaking countries, what specific initiatives are you undertaking to accelerate growth in non-English-speaking markets, and how will you address the unique challenges these markets present?

    5. As you aim to bundle products over the next 2-3 years to enhance customer value, can you provide more details on how you plan to execute this strategy without overwhelming customers, and what metrics will you use to measure its success?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateAugust 2023
    End Date/DurationThrough 2025
    Total additional amount$1,000.0 million
    Remaining authorization amount$767.4 million as of September 30, 2024
    DetailsTotal approved authority under the program is $4,000.0 million of Class A common stock

    Competitors

    Competitors mentioned in the company's latest 10K filing.

    • Newfold Digital - Competitor in Core Platform products and services .
    • Namecheap - Competitor in Core Platform products and services .
    • Tucows - Competitor in Core Platform products and services .
    • Dynadot - Competitor in Core Platform products and services .
    • GMO - Competitor in Core Platform products and services .
    • Cloudflare - Competitor in Core Platform products and services; offers domains at wholesale cost .
    • Let's Encrypt - Competitor in Core Platform products and services; offers security certificates at no cost .
    • SEDO - Competitor in Core Platform products and services .
    • Comodo - Competitor in Core Platform products and services .
    • Hostinger - Competitor in Core Platform products and services .
    • Identity Digital - Competitor in Core Platform products and services .
    • Shopify - Competitor in Applications and Commerce (A&C) products and services .
    • Block - Competitor in A&C products and services .
    • BigCommerce - Competitor in A&C products and services .
    • Stripe - Competitor in A&C products and services .
    • PayPal - Competitor in A&C products and services .
    • Liquid Web - Competitor in A&C products and services .
    • SiteGround - Competitor in A&C products and services .
    • WP Engine - Competitor in A&C products and services .
    • Zoho - Competitor in A&C products and services .
    • Mindbody - Competitor in A&C products and services .
    • Toast - Competitor in A&C products and services .
    • Yelp - Competitor in A&C products and services .
    • OpenTable - Competitor in A&C products and services .
    • TikTok - Competitor in A&C products and services .
    • Meta - Competitor in A&C products and services .
    • WeChat - Competitor in A&C products and services .
    • Wix - Competitor in both Core Platform and A&C products and services .
    • Squarespace - Competitor in both Core Platform and A&C products and services .
    • Automattic - Competitor in both Core Platform and A&C products and services .
    • Ionos - Competitor in both Core Platform and A&C products and services .
    • Google - Competitor in both Core Platform and A&C products and services .
    • Amazon - Competitor in both Core Platform and A&C products and services .
    • Microsoft - Competitor in both Core Platform and A&C products and services .
    • Alibaba - Competitor in both Core Platform and A&C products and services .
    • Tencent - Competitor in both Core Platform and A&C products and services .

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2004 PresentCurrent auditor

    Latest news

    Recent developments and announcements about GDDY.

    Financial Actions

      Debt Issuance

      ·
      Dec 16, 2024, 10:47 PM

      The company GDDY has recently created a direct financial obligation or entered into an off-balance sheet arrangement as indicated in their current report on Form 8-K. The specific details of this obligation are incorporated by reference from Item 1.01 of the same report . However, the document does not provide further details on the nature of the obligation or its potential effects on the company's balance sheet and financial health. For a comprehensive understanding, one would need to review Item 1.01 of the referenced report.

    Legal & Compliance

      Legal Proceedings

      ·
      Dec 16, 2024, 10:47 PM

      Summary of the Legal Matter Involving GoDaddy Inc.

      Key Parties Involved:

      • Borrowers: Go Daddy Operating Company, LLC and GD Finance Co, LLC, both subsidiaries of GoDaddy Inc.
      • Administrative Agent: Royal Bank of Canada
      • Other Parties: Desert Newco, LLC, and various lending institutions .

      Nature of the Proceedings:

      • GoDaddy Inc. has completed a refinancing of its existing Tranche B-6 Term Loans through a Twelfth Amendment to its Second Amended and Restated Credit Agreement. This amendment introduces a new tranche of term loans, specifically the Tranche B-8 Term Loans, amounting to $1,463 million, which will mature in 2029. The proceeds from these loans are used to refinance all outstanding Tranche B-6 Term Loans .
      • The amendment outlines the terms for the new loans, including an amortization rate of 1.00% per annum and specific applicable margins for different types of loans (SOFR and ABR Loans) .

      Potential Financial or Operational Consequences:

      • The refinancing is expected to streamline GoDaddy's debt structure by replacing the existing loans with new ones that have potentially more favorable terms, which could improve the company's financial flexibility and reduce interest expenses over time .
      • The refinancing does not appear to introduce any immediate operational changes but may impact financial strategies and capital allocation due to the new loan terms and repayment schedules .

      This refinancing is a strategic financial maneuver aimed at optimizing GoDaddy's debt profile and potentially enhancing its financial stability and operational efficiency in the long term.

    Corporate Leadership

      Leadership Change

      ·
      Nov 8, 2024, 12:00 AM

      Nicholas Daddario is leaving his position as Chief Accounting Officer at GoDaddy Inc. due to a restructuring within the company's accounting department. His employment concluded on November 6, 2024, but he will assist with the transition until December 13, 2024 . Phontip Palitwanon has been appointed as the new Chief Accounting Officer. She has been with the company for nine years, previously serving as Vice President, Finance and Vice President, Corporate Controller .