New CEO and executives point to a company growing by acquisition and new products.
Last week Go Daddy announced that Blake Irving, former Chief Product Officer at Yahoo, will take over as its CEO next year.
Now the company has made two more hires, and all signs point to the company focusing on acquisitions and product development.
First is former investment banker David Popowitz. He will be the company’s first Senior Vice President of Corporate Development. He’s clearly being brought in to hunt for acquisition targets.
Second is Raj Mukherjee as Vice President and General Manager of its Site Builder Product line. Mukherjee led Google’s small and medium business application business.
In a press release announcing the hirings, Go Daddy notes that “Its acquired assets, in aggregate, represent in excess of $100 million in revenues.”
The wording isn’t quite clear how that’s calculated, but either way I view it as a fairly small number.
Go Daddy’s acquisition of Outright earlier this year was its first true acquisition, after all.
And the company generated $1.3 billion in sales last year, so $100 million is peanuts.
But a shift is occurring. Historically, Go Daddy has shunned outside products in favor of developing its own technologies.
These recent hirings show that’s changing.
Ron says
Godaddy has done well, but I have heard rumblings the new corporate ownership is really reviewing bottom line margins, and discounts which is why they have flourished in the first place.
Andrew Allemann says
@ Ron – you can rest assured that will happen. It’s a private equity investment.
TeddyK says
Godaddy should start an “Equity-Based Crowdfunding” division once this new industry begins in 2013 (thanks to the JOBS Act of 2012).