Website builder GoDaddy (opens in new tab) has released its full-year financial results for 2020, revealing impressive growth figures.
The online platform, which also offers web hosting, domain registration, and business email services (opens in new tab), saw strong returns on its investments throughout the year.
Headline figures for the fourth quarter of 2020 include total revenue of $873.9 million, a 12% year-on-year increase, and total bookings of $943.1 million, a 13.1% increase. Net cash provided by operating activities was also up, as was the company’s s unlevered free cash flow. Collectively, the results highlight what a good financial (opens in new tab) year 2020 has been for the GoDaddy business.
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Of course, no discussion of 2020 would be complete without mention of the COVID-19 pandemic. With many services pushed online to maintain social distancing, website builders and other related solutions experienced an uptick in popularity. Unsurprisingly, GoDaddy saw its customers hit 20.6 million by the end of last year, representing growth of 7.1% year-on-year.
Not all of GoDaddy’s success can be attributed to the pandemic, however. The company also launched several successful marketing (opens in new tab) campaigns, which generated good returns for both bookings and gross profits. The company’s investments, such as its recently completed Poynt acquisition (opens in new tab), are also expected to drive revenue growth further.
Looking ahead to the rest of 2021, GoDaddy expects to post total revenue of $3.7 billion for the year but all organizations must be aware that the long-term business outlook remains unclear while markets work out the best way of existing the coronavirus pandemic.
"2020 was a really strong year for our business despite the obvious challenges, as our customers proved once again to be resourceful entrepreneurs and successfully pivoted to expand their online presence," GoDaddy CEO Aman Bhutani said. "We are confident that our 2021 plans to drive innovation and growth will not only bring more everyday entrepreneurs to the GoDaddy ecosystem, but will also help our existing customers achieve new heights of individual success."
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