GoDaddy plans to raise $4.5bn via IPO

Internet domain registrar and web hosting company GoDaddy is planning an initial public offering early next year that would value the world's biggest provider of web addresses at roughly USD 4.5 billion, the New York Post said.

GoDaddy, backed by KKR & Co and Silver Lake Management LLC, first filed to go public in June.

Chief financial officer, Scott Wagner, met with analysts last week to give an update on the company and stressed GoDaddy's desire to diversify to compete with rivals, the Post said, citing a source.

GoDaddy and other internet domain registration providers are under pressure after Google began testing a domain registration service in June this year.

“Some of our current and potential competitors have greater resources, more brand recognition and consumer awareness, more diversified product offerings, greater international scope and larger customer bases than we do,” GoDaddy said in its latest IPO document.