Go Daddy received a clear message from Wall Street on Tuesday: Stop, Daddy!
The company, which registers domains and hosts Web sites, shelved its plans for an initial public offering, citing among other things "hostilities throughout the Middle East." Whether you buy that reason or not, the collateral damage will include the dashed hopes for other start-ups counting on a Hail Mary IPO to raise cash in the stingy public markets.
It's hard to say just how excited or indifferent institutional investors were on investing in Go Daddy on its own merits. That's because the withdrawal of the company's IPO came on the same day that America Online announced it would offer email domain registrations for free, effectively pulling the rug that was Go Daddy's consumer-oriented market out from under its feet. ...
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