GoDaddy, one of the world’s largest domain name registrars, filed for Chapter 11 bankruptcy protection on March 14, 2018. The company has since announced that it will sell its domain name registration business to rival registrar Namecheap.
In addition, the company has also announced a number of layoffs and other cost-cutting measures.
What has happened to GoDaddy?
GoDaddy has been struggling recently, with its stock prices dropping by over 60% since the beginning of 2018. The company has been hit by competition from other registrars, as well as increased scrutiny from consumer protection agencies.
In March, GoDaddy filed for Chapter 11 bankruptcy protection, with the aim of selling its domain name registration business to rival registrar Namecheap. In addition, the company has announced a number of layoffs and other cost-cutting measures.
While the company’s future remains uncertain, its sale to Namecheap is a sign that it may be able to turn things around. If GoDaddy can continue to reduce its costs and improve its business, it may be able to bounce back and continue to be a major player in the domain name industry.
