GoDaddy Inc. officials have raised $460 million from selling 23 million class shares priced at $20 following its initial public offering (IPO), Reuters reports.
The company's shares rose up to 34 percent following its IPO.
"Even though GoDaddy is almost 20 years old, it's a growth company and it's cash flow-positive, which is what investors are interested in," Ernst & Young official Jackie Kelley told the site.
GoDaddy, which functions as an internet domain registrar and web hosting company, has recently shifted its focus of operations onto small-business services, facilitating consumer-to-business and business-to-business transactions.
The 18-year-old company was originally set to have an IPO in 2006. However, company officials retracted the move due to unfavorable market conditions present at that time.
The company has also launched several attempts to rebrand itself, especially the release of controversial Super Bowl Ad commercials. Nonetheless, GoDaddy is said to be thriving and growing, as seen by the IPO.
"This is a branding moment to us to say this is a business that really matters at scale globally," Chief Executive Officer Blake Irving said during an interview with Reuters.
GoDaddy is currently appraised at almost $5.5 billion, with much of its profits coming from international expansion of domain hosting.
The company is headquartered in Scottsdale, Arizona.
