Here is Bloomberg West top headline: (Apr1)
(1) NJ SEnator Menendez indicted on corruption charges
(2) Arkanasas Gov. won’t sign “Religious Freedom Bill”
(3) McDonald’s boosting pay at company-owned restaurants
(4) Morgan Stanley CEO James Gorman gets 25% comp boost in 2014
(5) Dish’s Sling TV adding HBO Now, HBO now is still to be available in Appl TV on April 12
(6) Drought prompts 1st mandatory water restrictions in California
The Lead headline: (Apr1)
(1) GoDaddy’s Market Debut in the New York Stock Exchange
GoDaddy CEO Blake Irving spoke to Bloomberg in the floor stock exchange about that cash flow. GoDaddy raises $460M in share sale.
Irving: The reason we pay so much attention to cash flow and run the business on cash is because on the gap recognition basis, you pay for everything upfront and you actually recognize revenue rapidly over the year so you creating a gap unintented between the way you bring cash and the way we reported, so we run on the cash flow basis. Frankly investor understand a SAAS basis business and cash flow management, our conversion in cash and even the cash is very strong and even with that gap differences in income.
Ruhle: Can you help us to understand GoDaddy is a brand company, so many people know who you are but they don’t understand what you do? When I look at your branding strategy and the advertisement that you put out, they seem totally disconnected from the company, so can you help us to understand it?
Irving: I won’t say that if you went back a decade. The first ad that GoDaddy ran are founder Bob the billiant marketer, actually it ran out and get a lot of attention for domain name and very few people know what a domain name was. So Bob had a method of getting people’s attention, it was more than a shock, an approach to creating an attention and awareness and brand awareness absolutely searched, the business search, Bob grew that business to a billion dollar and revenue and that attention. Now folks as you said know the GoDaddy name, we have 81% brand recognition today. And over the last two years, we took a very very big turn in our advertising strategy, how we portrait both our company and our customers. The last two years we have very different advertising, we had shown small businesses in their environment, fighting the good fight, trying to make sure that they can run by themselves. And that’s what GoDaddy does. We help their company take their ideas online and run their business as digital entity.