CNN Money: GoDaddy races onto Wall Street with $460 million IPO
April 1, 2015
“I would say the caution flag is up,” said James Gellert, CEO of Rapid Ratings, a firm that rates the financial health of public and private companies. GoDaddy was founded 18 years ago, but it still looks like an immature Internet company in many ways. It’s burning cash and is unprofitable. GoDaddy lost $622 million in the past three years. All this explains why Rapid Ratings gives GoDaddy a Financial Health Rating of just 24 out of 100, indicating an “elevated” risk of default. GoDaddy has “good market share in its niche, a recognizable name and cool colors. Those are about the only good things you can say,” said Gellert.