Go Daddy takes investment but doesn’t sell out.
Bob Parsons didn’t end up selling the company after all.
But Go Daddy just announced it has entered into a partnership with KKR, Silver Lake, and Technology Crossover Ventures in which the three will make an investment in the company.
There had been rumors that KKR and Silver Lake were in talks to acquire the company for over $2 billion.
It’s interesting that this is being labeled a partnership, but there are a number of reasons this may not have been a full buyout. It may also be that the investment will trickle down to option holders, which would be nice as they’ve been waiting for an exit.
In a press release, company founder Bob Parsons says:
“I’ve always said we would make a move like this when the right deal with the right partners could help us do the right thing for our customers and our employees,” said Go Daddy CEO and Founder Bob Parsons. “This is it! We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of Web based businesses and because their values align with ours. We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth.”
Apparently Bob told employees about the investment before the public announcement today.