September 10, 2010 / 10:37 PM / 9 years ago puts itself up for sale: report

SAN FRANCISCO (Reuters) - Internet domain name registry has put itself up for sale, the Wall Street Journal reported on Friday.

The privately held company could fetch more than $1 billion in an auction, the report said, citing people familiar with the matter.

GoDaddy has hired investment bank Qatalyst Partners, the Journal reported. Private equity firms are expected to bid.

The company declined to comment.

GoDaddy is the world’s largest domain name registrar. The company was founded by Bob Parsons in 1997, and says it has more than 43 million domains under management.

The company posted revenue between $750 million and $800 million in 2009, the report said.

GoDaddy has made a name for itself by running racy television ads to promote its brand, some of them featuring race car driver Danica Patrick.

Reporting by Alexei Oreskovic and Gabriel Madway; editing by Gunna Dickson

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