Hot Stock Minute

Google is moving in on GoDaddy’s turf

Google (GOOGL) is moving in on GoDaddy’s domain.

The Internet giant is getting into the domain name registration business. The invite-only registration service is called Google Domains and it's in the beta testing stage right now. The service costs $12 a year and it helps users search, find, purchase and transfer domains. It also offers website builder and email services. 

This is not a big business opportunity for Google, said Yahoo Finance Senior Columnist Michael Santoli, but Google thinks it can do better and it already has the infastructure to do it. 

The new Google Domains service does go head-to-head with GoDaddy. However, Santoli said, “Google doesn’t exactly come in and dominate and kill every category its goes after.”

GoDaddy filed for an IPO earlier this month that could be worth $100 million. The company is the world’s largest domain registrar with over 57 million domains under management. But in a filing with the Securities and Exchange Commission GoDaddy revealed it hasn’t made a profit since 2009 and the company lost $200 million last year.

“It definitely forces GoDaddy to kind come up with another reason that it should be a public company that people expect to grow, as opposed just kind of this boring utility piece of the Internet,” Santoli said.


View Comments (2)