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  "documentTitle": "GoDaddy Inc. (GDDY)",
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  "authorName": "Peter A. Feld",
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  "presentationDate": "2024-01-31 00:00:00",
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      "text": "As shown in the chart below, despite the recent increase in share price, GoDaddy is still valued at a large discount compared to peers and its own historical trading multiple.",
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      "text": "Dear Aman and Mark, As you know, Starboard Value LP has been an investor in GoDaddy since 2021. Starboard beneficially owns more than 6% of the outstanding common stock of GoDaddy.",
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      "text": "However, commentary on one earnings call and a few months of share price outperformance do not solve a multi-year problem. GoDaddy is still valued at a large discount compared to peers.",
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      "text": "Our goal has been to see GoDaddy improve its combination of growth and profitability. We were pleased to see GoDaddy take a step in the right direction on its Q3 FY2023 earnings call.",
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      "text": "January 31, 2024. GoDaddy Inc. 2155 E. GoDaddy Way, Tempe, Arizona 85284. Attn: Aman Bhutani, CEO; Mark McCaffrey, CFO. cc: Board of Directors.",
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      "text": "Despite lowering Q4 FY2023 revenue growth guidance from 7% to 6%, GoDaddy’s share price has since outperformed, which we believe is largely attributable to the higher Adj. EBITDA margin guidance.",
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