Wednesday, August 9, 2006
Go Daddy Withdraws IPO
Scottsdale, Arizona-based Go Daddy Group has withdrawn its IPO, saying this morning that it has determined not to proceed with the registration and sale of its Class A common stock. The firm said that it has decided not to process with an IPO at this time, due to adverse market conditions. The firm's CEO, Bob Parsons, said in a statement that the company is withdrawing its IPO due to market conditions, the war in the Middle East, skyrocketing oil prices, and the poor performance of technology stock on Wall Street. Parsons specifically pointed out the recent poor performance of initial public offerings in general, and of technology stocks, in particular. Go Daddy Group provides domain name registration and other internet services.