GoDaddy’s founder tells the story of how the company almost failed in a new autobiography.
Few people have shaped the domain name industry and domain investing as much as Bob Parsons, the founder of GoDaddy.
This month, Parsons published an autobiography, Fire in the Hole!: The Untold Story of My Traumatic Life and Explosive Success.
The book covers the creation and success of GoDaddy, and also dives into his early life, his time in the military, and what he has done since selling GoDaddy for $2.3 billion.
While I didn’t always see eye to eye with Parsons and some of his decisions at GoDaddy, I’ve always respected him as an entrepreneur. GoDaddy wasn’t his first success; it wasn’t a fluke.
Before founding GoDaddy, Parsons created a software firm called Parsons Technology. In his book, he recounts the early struggles to sell his software. Parsons eventually bet the business on a big ad in a print publication, and that ad helped turn the corner. Intuit later acquired Parsons Technology for $64 million.
After splitting the money in a divorce, he took what was left and funneled it into Jomax Technologies, which would later become GoDaddy.
Jomax had a slow start, burning through cash as it tried to find a business model. In a story he once recounted at the DomainFest conference, Parsons talks about the experience of seeing his cash pile dwindle.
He decided to shut down the company as his funds slipped to the mid-single digit millions. He took a trip to Hawaii to think through how to do it. While there, he came across a valet about his age who was very happy parking cars. Parsons thought to himself that if he ended up losing all of his money, he could always still be happy like that valet.
So, he doubled down on the company. It grew as a domain name registrar and hit an inflection point when Parsons went back to his playbook of going big on an ad. This time, it wasn’t a $5,000 ad in a computer magazine. It was the Super Bowl.
He created his first infamous Super Bowl commercial. It was supposed to run twice, but Fox nixed the second run because of the controversy. GoDaddy parlayed that controversy into a lot more exposure.
While I was generally aware of the history of Parsons Technology and GoDaddy, I enjoyed reading the in-depth tale from his perspective. He also gives a shoutout to domain investors in the book.
Fire in the Hole! also recounts what Parsons has done after GoDaddy, including his golf ventures and charitable giving after signing The Giving Pledge. (Parsons has also been generous outside of charity. Someone lent him $350 to help with the downpayment for his first house; Parsons sends him a $50,000 gift every Christmas.)
Parsons’ autobiography sheds light on his upbringing, which clearly led to many of his traits in business and life. Let’s just say his childhood didn’t include much emotional love.
He wasn’t a good student, either. When he graduated high school, he enlisted with the Marines despite the war in Vietnam. He served about a month in combat but saw more than anyone should see in a lifetime.
As a result of his time in Vietnam and his childhood, Parsons later discovered that he had PTSD. This impacted both his work and social life.
He recounts his efforts to cope with PTSD, including using psychedelics. Parsons encourages other people facing PTSD to get help; he also donates to charities that help people overcome their mental struggles.
Understanding his youth helps explain his personality. He notes that many people who have worked with him saw him as a “gruff, unpredictable, way-too-intense guy.”
“They wouldn’t be wrong. I was. I didn’t mean to be. It wasn’t my intention. But until I could seek treatment, everyone around me suffered from my pain.”
Since seeking treatment, Parsons has attempted to repair some of the bridges he had burned, including those with his family.
Parsons left a significant mark on the domain name business. It was fun to read his side of that story and understand how his youth shaped who he became.
Fire in the Hole! is available at online booksellers, including as an audiobook narrated by Parsons.
THE MAN IS A LEGEND AND DESERVES HIS SUCCESS AND FORTUNE
Yes, specially for killing elephants…