STARBOARD DELIVERS LETTER TO GODADDY

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Intends to Closely Monitor the Company's Upcoming Q4 FY23 Earnings Call and March 2024 Investor Day to Ensure that Appropriate Operating and Financial Targets Are Set for the Near, Medium, and Long-term

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Wednesday, January 31, 2024
Information
Tags: 
Set, GoDaddy, Letter
Geotags: 
NEW YORK
⚠ partially generated by AI ↴
Organisation: 
STARBOARD VALUE, STARBOARD VALUE LP, GODADDY
Stock Symbol: 
NYSE:GDDY
Summary
Key Points: 
  • Intends to Closely Monitor the Company's Upcoming Q4 FY23 Earnings Call and March 2024 Investor Day to Ensure that Appropriate Operating and Financial Targets Are Set for the Near, Medium, and Long-term
    NEW YORK, Jan. 31, 2024 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), a significant stockholder of GoDaddy Inc. ("GoDaddy" or the "Company") (NYSE: GDDY), today announced that it has delivered a letter to Aman Bhutani, GoDaddy's Chief Executive Officer, and Mark McCaffrey, the Company's Chief Financial Officer, with a copy to GoDaddy's Board of Directors.
  • The full text of Starboard's letter to the Company can be viewed at the following link:




STARBOARD DELIVERS LETTER TO GODADDY

Believes that Opportunities Continue to Exist to Significantly Improve GoDaddy's Combination of Growth and Profitability

Views the Company's Recent Disclosure of Improved Profitability Targets as a Step in the Right Direction

Believes GoDaddy Remains Undervalued with an Opportunity for Significant Shareholder Value Creation

Intends to Closely Monitor the Company's Upcoming Q4 FY23 Earnings Call and March 2024 Investor Day to Ensure that Appropriate Operating and Financial Targets Are Set for the Near, Medium, and Long-term 

Remains Open to Working Constructively with Management and the Board  

NEW YORK, Jan. 31, 2024 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), a significant stockholder of GoDaddy Inc. ("GoDaddy" or the "Company") (NYSE: GDDY), today announced that it has delivered a letter to Aman Bhutani, GoDaddy's Chief Executive Officer, and Mark McCaffrey, the Company's Chief Financial Officer, with a copy to GoDaddy's Board of Directors.

The full text of Starboard's letter to the Company can be viewed at the following link:

https://www.starboardvalue.com/wp-content/uploads/Starboard_Value_LP_Letter_to_GDDY_01.31.2024.pdf

About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

Investor contacts:
Peter Feld, (212) 201-4878
Gavin Molinelli, (212) 201-4828
www.starboardvalue.com

Cision View original content:https://www.prnewswire.com/news-releases/starboard-delivers-letter-to-godaddy-302049311.html

SOURCE Starboard Value LP



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