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GoDaddy is one of the dominant providers of internet domain services for consumers and small businesses. They are famous thanks to their splashy TV commercials, and have built a $1.4B business on the foundation of registering domain names and offering some basic website tools and services. Demand for these core services continues to expand with the internet, and GoDaddy has introduced additional products to support e-commerce and social media with an eye to increasing ARPU.

This isn’t a nice clean IPO. In 2011, GoDaddy did a . . .

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