Company completed acquisition of rival domain sales platform last month.
According to a regulatory filing, GoDaddy (NYSE: GDDY) paid $71.4 million to acquire Dan.com.
The company filed its form 10-Q quarterly report today. In the subsequent events section, it stated:
In July 2022, we completed an acquisition for $71.4 million in cash.
GoDaddy announced the acquisition of Dan.com at the end of June, but it hadn’t closed yet. The deal appears to have closed in July because GoDaddy branding appeared on Dan.com’s landers last month.
Dan.com raised a multi-million dollar Series A round in 2020. The language of the original announcement made it seem like single-digit millions. If there were subsequent funding rounds, they were not announced to the public that I’m aware of.
By acquiring Dan.com, GoDaddy picked up a company that was siphoning off many of GoDaddy’s for-sale lander purchases. Domain investors are concerned that it might mean they’ll pay higher commissions in the future.