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10|25|2010 03:07 pm EDT

GoDaddy Business Auction Cancelled

by Frank Michlick in Categories: Registrars

As WSJ reports, the private auction for domain registrar and hosting company GoDaddy was broken off last week while some potential buyers were performing due diligence.

Potential bidders, including private-equity firms General Atlantic and TPG, were called last week and told the auction was off, the people said, leaving the interested parties hanging in the middle of due diligence. General Atlantic, which owns GoDaddy.com’s smaller competitor, Network Solutions, may have partnered with a couple of other buyout shops to make an offer, one of the people said. Now those efforts are over

The bidders in the second round of the auction were well enough equipped to meet GoDaddy’s asking price tag of 1.5 to 2 Billion USD. None of the bidders was informed as to the reasons why the auction was pulled.

Editor’s Note: The pulling of the auction seems similar to the withdrawal of the IPO the company in 2006.

[via Wall Street Journal]

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6 Comments

Batfan

October 25, 2010 @ 4:44 pm EDT

That makes sense. As a former employee, I know Bob wouldn’t stand to have his baby owned by the same company that owns NetSol.

Mike

October 26, 2010 @ 4:05 am EDT

It probably fell apart during due diligence because they started asking for info on Bluerazor, where GD does all of its shady shit.

Confused

October 26, 2010 @ 6:46 am EDT

I think someone’s confused lol…selling millions of domains for $1 doesn’t mean all your other competition is “smaller.” Bob is gettin good at this whole pulling out thing.

Memphis Domain Broker

October 26, 2010 @ 12:02 pm EDT

Just as we where sure that we had the money put together for this project, they pulled out. I guess I will have to find another way to meet Danica!

bayan escort

October 27, 2010 @ 9:57 am EDT

It probably fell apart during due diligence because they started asking for info on Bluerazor, where GD does all of its shady shit.

Domainers Gate #1 directory

November 8, 2010 @ 10:51 am EDT

two possible reasons of the GoDaddy decision could be:
.
1. the price reached by the (hidden) auction hasn’t been the amount wanted, or…
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2. they not really wanted to sell the company but just to have a Press extra-hype
.
however, one good news (for us) of this bad news (for GoDaddy) is that we should not see the GoDaddy prices to grow (as probably would done by a GoDaddy buyer to cover the buying costs)
.
.
.

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