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GoDaddy To Raise As Much As $418M In IPO

This article is more than 9 years old.

GoDaddy could raise up to $418 million in its initial public offering, according to a regulatory filing on Thursday.

The web domain company is set to offer 22 million Class A shares priced between $17 and $19 apiece. At the high end of this range, this values the company at $2.87 billion.

The stock will trade on the New York Stock Exchange under the ticker GDDY.

Based in Scottsdale, Arizona, GoDaddy provides domain name registration and web hosting services. It is known for its provocative television commercials, and is also a NASCAR sponsor.

The tech company follows online data storage provider Box , which made its public debut in January. Since then, its shares have dropped by 27%.

This is not GoDaddy's first attempt at entering the public markets. GoDaddy, which was founded in 1997, first attempted to go public in 2006 but ultimately withdrew. In 2011, it was acquired by private equity firms including KKR and Silver Lake Partners for $2.25 billion, and filed for an IPO last June.

GoDaddy's revenues rose by 23% to $1.4 billion last year, but it still posted a loss of $143.3 million.

Morgan Stanley , JPMorgan and Citigroup are the lead underwriters of the IPO.