GoDaddy CEO Scott Wagner: New Services, International Market Will Fuel Growth
*By Conor White*
Web hosting company GoDaddy has doubled its revenue in the last five years and seen its stock increase in price by more than 175%. Recently appointed CEO Scott Wagner believes that's only the beginning.
"Today GoDaddy is a useful utility to get your idea started online," Wagner explained. "And our goal over the next five years is to really be the place where ideas start, grow, and thrive online."
Wagner has been at GoDaddy since 2013, serving as CFO and COO before taking over the top spot in January. He'd previously been at investment firm KKR, where he led the portfolio operations team. The firm poured $2.25 billion into GoDaddy back in 2011.
In an interview Wednesday on Cheddar, Wagner mapped out where GoDaddy is headed next and explained why he's so bullish on the future of the company.
"Seven \[million\] of our 18 million customers are from outside the U.S., that will continue nicely," he said. "And it's adding new services ー so connecting not only a tool to build your website to social media platforms.
"We just bought a business called Main Street Hub that'll really be the place where not only can you have an idea and position it on the web, but syndicate that content everywhere you need to be on social media."
GoDaddy reported first-quarter revenue of $633.2 million, up 29% from the year before, and 17.7 million customers, up 17.4%.
For the full segment, [click here.](https://cheddar.com/videos/ceo-of-godaddy-talks-future-plans)
Cheddar News breaks down what surge pricing is and how it works as a variety of businesses are taking notes from models long used by airlines and ridesharing companies to boost profits.
Fewer Americans applied for jobless claims last week as the labor market continues to thrive despite the Federal Reserve's efforts to cool the economy and tamp down inflation.
Stocks rallied after a group of big banks offered a lifeline to the bank Wall Street had zeroed in on in its hunt for the next victim in the industry’s struggles.
The Federal Reserve on Wednesday evening said its long-awaited digital payment system, the FedNow Service, will start operating in July. The service is designed to provide a national platform for financial institutions to settle payments in real-time and at lower cost. That could include large banks, payment processors, and the U.S. Treasury.
A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee that the nation's banking system “remains sound” and Americans "can feel confident” about their deposits.
Kellogg announced last year that it was splitting into two companies, one focused on snacks and the other on cereal. Now it's revealed what those new companies will be called. The cereal business will retain the name Kellogg's, while the snack business will be called Kellanova.
