GoDaddy stocks gains 30% on first day of IPO

domainking131

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Godaddy stocks gained over 30% on the first day of IPO.
The share was issued at $20 and the stocks leaped to $26 on the first day itself, valuing the company at $5.48 Billion.
The company had priced its IPO at $20 per share Tuesday evening, above its previous range of $17 to $19 per share. The company raised $460 million as part of the offering.

Founder Bob Parsons launched GoDaddy in 1997 as Jomax Technologies and first sought to take the company public in 2006. That IPO never happened because of unfavorable market conditions. In December 2011, private equity firms Kohlberg Kravis Roberts & Company, Silver Lake Partners and the venture capital firm Technology Crossover Ventures bought GoDaddy for $2.25 billion. The company filed for an IPO again last June.

It is trading around $27 as of now.
 
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