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
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SOURCE Starboard Value LP
