Outspoken GoDaddy CEO Claims IPO Quiet Period Was Just Too Tough

from the nice-one dept

Earlier this week, GoDaddy announced it would pull the plug on its planned IPO, giving the typical excuse of poor market conditions. This seemed like a plausible reason, considering the fate of Vonage, and the general difficulty in getting unprofitable companies (like GoDaddy) to market. But now GoDaddy is offering another reason. Its founder, the outspoken Bob Parsons says he just couldn't bear to keep his mouth shut during the mandatory quiet period. Parsons said that it has been "suffocating" and that he didn't like having to suspend his weekly radio show or TV appearances. It's true, quiet periods can be tough; even Google almost got derailed during theirs. But the real reason is probably closer to what they told the SEC, that the market conditions weren't right. But saying they were doomed by the quiet period is so much more in fitting with the company's image, and now that it has no plans to go public, Parsons can say whatever the heck he wants.

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  1. identicon
    Anonymous Coward, 10 Aug 2006 @ 10:21am

    Re: IPO

    they go ipo to raise money to invest in the company

    The executives grant themselves shares, and have an added source of income

    Value depends on what market is willing to pay, the investment company involved estimates this amount

    The quite period requires no details to be discussed that arent alreadly public (any thing not in the IPO prospectus). I would imagine it has something to do for insider information or something like that

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