Godaddy Inc (GDDY) Acquires Approximately 70,000 Domain Names

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Godaddy Inc (NYSE:GDDY) shares are up in mid-day trading as the company has announced the acquisition of a major domain name portfolio from Woldwide Media Inc. These domains, which include the likes of 373.com, BikeRentals.com and KitchenChef.com will enable the company to offer their customers an even wider range of options. Godaddy Inc (NYSE:GDDY) will be listing the majority of these names on their subsidiary, Afternic’s Fast Transfer Network (DLS).

“GoDaddy is focused on making sure our customers get the perfect online name for their business or passion, so we’re always looking at ways to improve what domain names our customers can register. Our plan is make these names accessible to small business, ” GoDaddy senior VP and GM Mike McLaughlin stated.

The stock is currently trading higher by 3.12% or $1.02 following the positive news, hitting $33.7 per share at the time of us publishing this article. About 703,130 shares traded hands or up 9.14% from the average. GDDY has risen 25.79% since May 4, 2015 and is currently uptrending. It has outperformed the S&P500 by 26.87%.

GoDaddy Inc. operates a Web domain marketplace, godaddy.com. The company has a market cap of $5.07 billion. The Firm is a technology well-known provider to small businesses, Web design professionals and individuals, delivering cloud products and outcome-driven, personalized Customer Care. It currently has negative earnings. The Firm operates domain marketplace, where its clients can find that piece of digital real estate that matches their idea.

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