An existing investor received a 6.5% stake from GoDaddy.

An existing investor received a 6.5% stake from GoDaddy.
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An activist investor named Starboard Value LP has bought a 6.5% stake in the web hosting company GoDaddy for nearly $800 million, Reuters reports. Reuters, citing people familiar with the matter, said the investment pushed the stock up 2.6% in premarket market trading. It plans to press GoDaddy to improve performance. Earlier, Starboard Value LP bought a stake of nearly $550 million in GoDaddy.

The move follows a recent activist investor, Starboard Value LP’s, purchase of a 6.5% stake in GoDaddy. It comes as a surprise, considering the stock has already lost 8% this year. The news of Starboard’s investment in GoDaddy comes on the heels of its announcement that it would push the company to improve performance. The activist investor cited staffing shortages as a primary reason for his decision. In addition, the COVID-19 pandemic has caused a spike in traffic to GoDaddy’s website.

Starboard has been a shareholder in GoDaddy since 2011. The firm was founded by Bob Parsons and acquired by private equity firms in 2011 and later taken public by Technology Crossover Ventures in 2015. It has become a one-stop shop for those who want to build a website. Its shares are down 8% this year, but they rose 2.6% in premarket trading. Investors said the company’s shares were undervalued and represented a good investment opportunity. Interestingly, the Wall Street Journal was the first to report the firm’s investment. They plan to push GoDaddy to improve its performance.

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GoDaddy’s stock price has dropped 8% this year, but it rose 2.6% in premarket trading on Tuesday. The activist investor said the shares were undervalued and were a good investment. According to the Wall Street Journal, Starboard will use its stake to pressure the company to improve its performance. It is unclear what the activist investor’s plans are for GoDaddy, but it is not hard to imagine what the activist investor’s new capital will do.

 The shares have gained 3% this year, while Didi Chuxing has blocked employees from selling their shares. Activist investors have a reputation for demanding performance from companies. An activist investor has reportedly requested a seat on the board of directors of GoDaddy. This investment has boosted its share price by 2%.

Starboard Value LP has taken a 6.5% stake in GoDaddy for $800 million. The Tempe, Arizona-based company provides hosting services for businesses and also offers brand consulting and website design services. The Investor said that the shares were undervalued and represented a great investment opportunity. They have plans to pressure the company to improve its performance.

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