Existing investors add to balance sheet.
Newfold Digital, a rollup of domain name and web hosting companies, announced today that it has raised an additional $100 million of funding.
Its existing owners, Clearlake Capital Group, L.P., and Siris Capital Group, provided the funding.
The company is due to receive an additional cash infusion upon the completion of the sale of MarkMonitor to Com Laude.
In a release, the company said the money would be used to “enhance liquidity, strengthen the Company’s capital structure, and fuel long-term strategic plans.” It did not specifically mention acquisitions, though there are upcoming opportunities in the space, with both Team Internet and Sedo assets currently being marketed.
Newfold Digital has been combining its brands this year, moving both Register.com and Web.com to its Network Solutions platform. It has also consolidated some of its hosting brands under the Bluehost moniker.
For domain investors, Newfold Digital also owns NameJet and SnapNames.
The investors who are funding NewFold Digital are wasting their money by investing on a deferred company which has lost it reputation considerably. People who are familiar with NameJet and NewworkSolutions know how pathetic their services.
NameJet and SnapNames are not ethical organisations. Any lapsed domain from Network Solutions with any interest gets transferred in automatically, avoiding any public process. There’s then an “auction” which is more to detect interest and allow bots to snap up domains for resale by Newfold with the market rate with a primum above the auction bid by a verified human. Of course I have taken evidence of all of this, and yet what good does this do me?