Go Daddy has a new boss and new ownership following a deal reportedly worth $2.25 billion.
For the first time in its 14-year history, Bob Parsons will be neither the majority shareholder nor the CEO.
It appears that seasoned technology investment firms KKR, Silver Lake and Technology Crossover Ventures will own, between them, more than half of the domain name registrar.
Very little about the “partnership” was disclosed, including the financial terms. Various media sources valued the deal at $2.25 billion.
It was left to Domain Name Wire to uncover the news that Parsons will actually step aside as CEO to allow COO Warren Adelman to take over.
Parsons will become executive chairman.
A Go Daddy spokesperson said: “Mr. Parsons has said he will be very active in the business, especially in the areas he is most interested, such as marketing.”
She added that “very little will change”.
The spokesperson confirmed that after the deal closes Parsons will no longer be the majority shareholder. He currently owns 78% of Go Daddy, with the remaining 22% allocated to employee stock options.
As DNW reported, 36 employees will cash out for over $1 million each.
I wonder if we’ll see a mini wave of new domain name companies springing up in the Scottsdale area, as a result of newly minted Go Daddy millionaires leaving to launch their own start-ups.