American hosting service GoDaddy is looking into an initial public offering (IPO) on the New York Stock Exchange, reportedly valued at $3 billion (£2 billion).
It is the first public insight into GoDaddy’s financial state since the launch of the company in 1997, and the situation does not look great. GoDaddy has failed to make a profit since 2009, which will make the IPO a little harder to reach.
The company plans to make $418 million (£283 million) in funding from the IPO, selling each share for $17 to $19 (£11.50 to £13).
In the financial report, GoDaddy lost $143 million (£96 million) last year. This lack of operating profit will put a lot of investors off GoDaddy, especially since it is quite an old company, around the same age as Google.
The one big thing GoDaddy has is 60 million domains, making it the largest domain registrar holder in the world. It sells cheap monthly deals to entice customers, layering in the extra charges after a few months.
GoDaddy might be known in the public eye as the company always making the lewd promotional adverts for the Super Bowl. It has been trouble more than once for quite provocative videos, one of which was removed from the Super Bowl advertising after complaints.
It is not the first internet company jumping on NYSE this year, cloud storage provider Box went public earlier this year with a stock price of $22 (£15), but it has recently dropped to $17 (£11.50) after a month of trading.
Investors believe newer internet companies like Pinterest, Snapchat, Dropbox and Uber will crop up in the public stock market this year, and could fuel massive investments of over $50 billion (£33 billion) for Uber.