01 Jul '11, 11pm

Bob Parsons Explains Go Daddy - KKR Deal to Domain Name Wire

Investment makes 36 millionaires, will help company expand overseas and acquire complementary businesses. I just got off the phone with GoDaddy.com founder Bob Parsons, who explained the deal his company just struck with KKR, Silver Lake, and Technology Crossover Ventures. Contrary to reports in publications such as The Wall Street Journal, this was not an outright acquisition. Parsons remains the single largest shareholder in the company in what he terms a “partnership”. Before the deal Parsons owned 78% of the company and employees owned 22% through stock options. Both Parsons and the employees benefited from the investment, with 36 employees getting $1 million plus checks. All of the senior management invested in the deal and a number of people with options rolled some of it into stock in the company. Why not just sell the company? “I’m not dead yet, Andrew,” Parsons to...

Full article: http://domainnamewire.com/2011/07/01/bob-parsons-explains...

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@seanbonner they owned the domain at least

@seanbonner they owned the domain at least

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