GoDaddy has recently announced that it has purchased the domain GDDY.com. For those not aware "GDDY" is the stock ticker for GoDaddy, and as such is something that is regularly searched for in Google when looking up the GoDaddy Stock market price, or indeed stock market \ financial information on them.
The Domain name was originally owned by a third party, but once the Stock Ticker was assigned following their recent IPO, Right of the Dot LLC immediately began the procurement process on behalf of GoDaddy. With such an interest in the company, GoDaddy wanted to make it easy of investors to find out more information about the company, and wanting to demonstrate best practice GoDaddy Senior Vice President and General Manager, Domains Mike McLaughlin continued had this to say:
Our goal is to help small businesses be successful and part of that is informing them about best practices, [...] And to give credit where it's due, Right of the Dot, LLC did a great job in helping us get the name in a timely and affordable fashion.
Right of the Dot's President & Director Monte Cahn had this to say:
As a valued partner, when we saw what the GoDaddy stock symbol was going to be and knowing how important this would be for them, we immediately began the acquisition process for GoDaddy, we have helped hundreds of companies with premium and strategic domain acquisitions and sales for branding, online naming projects, products and services in all kinds of key words and domain extensions.
No. of Companies in Fortune 500
% Owning their Stock Ticker Domain Name
% Directing Their Stock Ticker Domain to Investor relations page
That is right, only 2 out of the 500 companies making up the Fortune 500 own their stock ticker domain name AND direct that domain to their Investor relations page. McLaughlin had this to say:
We knew the majority of people typing in GDDY.com would want to know more about the company, so it made sense to get the name and point it to our Investor Relations page.
Here are some interesting examples of major companies and whether they own their trading symbol:
- Amazon — owns AMZN.com
- Web.com — does NOT own WWWW.com
- Google — does NOT own Goog.com
- Marchex — owns MCHX.com
The GoDaddy IPO
GoDaddy's (GDDY) Initial Public Offering on the 1st April 2015 offered a total of 23 million shares at an entry price of $20 per share GoDaddy rising to $26.15 within hours the company is now valued at around $6 billion.
With GoDaddy's renewed focus on business in its advertising, moving away from the riskiest commercials and even Danica Patrick, coupled with a significant investment in services compared to its competitors such as EIG (there are some useful financial comparisons in this report) it is no wonder there is positive sentiment toward GoDaddy Shares.
Certainly, our view is that they seem to be working hard toward its mission statement to helping small businesses by empowering them to start easily, grow and run their own ventures.
GoDaddy currently has around 13 million customers worldwide and manages more than 59 million domain names.