GoDaddy Inc. (GDDY)

Sector: Technology|Industry: Software - Infrastructure|Market Cap: $28.13B|Employees: 6.2K


GoDaddy is a global leader serving entrepreneurs by providing easy-to-use products in a one-stop shop solution alongside personalized guidance. The company's core business model revolves around domain name registration, website building, and hosting services, with additional revenue streams from commerce and productivity solutions. GoDaddy holds a strong market position, boasting a large customer base and brand recognition, particularly in the U.S., and has a significant international presence.

  1. Filings
  2. Company Profile

Business Summary

GoDaddy is a global leader serving a large market of entrepreneurs, developing and delivering easy-to-use products in a one-stop shop solution alongside personalized guidance. The company serves small businesses, individuals, organizations, developers, designers and domain investors. GoDaddy's mission is to empower entrepreneurs everywhere, making opportunity more inclusive for all. The company's core business model revolves around providing tools and services that enable customers to establish an identity, connect with their customers, and manage their ventures online. Key markets include the United States, United Kingdom, Canada, India and Australia. GoDaddy competes in a fragmented market with a variety of companies, ranging from domain registrars to website builders and e-commerce platforms.

Key Statistics

  • Employees: 6,159 (as of December 31, 2023)
  • Geographic Footprint: Over 200 markets worldwide
  • Headquarters: Tempe, Arizona
  • Founded: 2014
  • Number of locations/facilities: Multiple data centers and offices globally
  • Revenue: $4.254 billion (FY2023)
  • Market Capitalization: Approximately $11.1 billion (as of June 30, 2023)
  • Key Subsidiaries/Brands: GoDaddy Registry, GoDaddy Payments

Leadership

  • CEO: Aman Bhutani
  • CFO: Mark McCaffrey
  • Chief Accounting Officer: Nick Daddario
  • Board Chair: Brian H. Sharples

Aman Bhutani has served as CEO since 2019. The company's leadership team brings extensive experience in technology, finance, and business strategy.

Key Financial Metrics

  • Annual Revenue: $4.254 billion (FY2023)
  • Net Income: $1.376 billion (FY2023)
  • Market Cap: Approximately $11.1 billion (as of June 30, 2023)
  • Total Assets: $7.565 billion (as of December 31, 2023)
  • Employees: 6,159 (as of December 31, 2023)
  • Key Financial Highlights: Revenue increased by 4.0% year-over-year, net income increased by 289.8% year-over-year, and total bookings increased by 4.3% year-over-year in FY2023.

Products and Services

GoDaddy offers a broad range of products and services, including:

  • Domains: Domain name registration and aftermarket services.
  • Websites + Marketing: Website building tools, e-commerce solutions, and marketing tools.
  • Managed WordPress: Hosting and management services for WordPress sites.
  • Commerce: Online store capabilities, point-of-sale systems, and payment processing solutions.
  • Email and Productivity: Domain-specific email, Microsoft 365, and other productivity tools.

Key Business Segments

GoDaddy operates through two main segments:

  • Applications and Commerce (A&C): Primarily consists of sales of products containing proprietary software, notably website building products, as well as commerce products and third-party email and productivity solutions. A&C revenue was 33.6% of total revenue in FY2023.
  • Core Platform (Core): Primarily consists of sales of domain registrations and renewals, aftermarket domain sales, website hosting products and website security products when not included in bundled offerings of proprietary software products. Core revenue was 66.4% of total revenue in FY2023.

Business Strategy

GoDaddy's strategy focuses on empowering entrepreneurs by providing easy-to-use tools and personalized guidance. Key strategic initiatives include:

  • Investing in generative AI to enhance customer experience and product offerings.
  • Expanding commerce solutions to enable customers to sell anywhere.
  • Focusing on seamless and intuitive experiences for non-technical users.
  • Leveraging data and insights to personalize products and marketing efforts.
  • Growing international presence and penetration.

Industry Context

GoDaddy operates in a highly competitive and fragmented market. Key trends affecting the business include:

  • Increasing reliance on online presence for businesses.
  • Rapid technological advancements, including AI.
  • Evolving customer expectations for seamless digital experiences.
  • Growing importance of mobile commerce and social media.
  • Key Competitors: Newfold Digital, Namecheap, Tucows, Shopify, Wix, Squarespace, Automattic, Ionos, Google, Amazon, Microsoft, Alibaba and Tencent.

Risk Factors

  • Market Risks: Competition, changing customer preferences, and economic conditions.
  • Operational Risks: System failures, security breaches, and reliance on third-party providers.
  • Financial Risks: Indebtedness, interest rate fluctuations, and currency exchange rate risks.
  • Regulatory Risks: Compliance with data privacy laws, payment regulations, and ICANN policies.
  • Strategic Risks: Inability to attract and retain customers, manage growth, and execute acquisitions successfully.

Last Updated

2024-02-29

(Generated from latest 10-K filing)