Acquisition will give GoDaddy a large presence in Austin.
GoDaddy will soon join the ranks of Facebook, Amazon and Google by having a large workforce in Austin.
The company announced today that it is acquiring Austin-based Main Street Hub for $125 million, plus an earnout of up to $50 million.
GoDaddy intends to continue operating the 600-person company from Austin. Main Street Hub currently has two offices in downtown Austin with plans to consolidate in a new headquarters building in 2019.
Main Street Hub provides social media management services for small businesses. Its customer base is rather small at 10,000, but the typical customer pays it $300 a month. That’s significantly higher than GoDaddy’s ARPU.
While most of GoDaddy’s services are do-it-yourself, Main Street Hub falls squarely in the do-it-for-me space. It lets small businesses outsource their social media and reputation management to increase business.