By Colin Kellaher

 

GoDaddy Inc. on Thursday said it will buy back $250 million in stock under an accelerated repurchase agreement with Goldman Sachs & Co.

The Tempe, Ariz., company that helps individuals and businesses create websites currently has about 168 million shares outstanding and sports a market capitalization of nearly $12 billion.

GoDaddy said its share-repurchase program will still have about $750 million available upon completion of the accelerated buyback.

The company said that upon completion, it will have bought back about 6.9 million shares so far this year, and roughly 16.9 million shares, or more than 9% of its shares outstanding, since the start of 2020.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

August 12, 2021 10:14 ET (14:14 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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