TEMPE, Ariz. - GoDaddy Inc. (NYSE: NYSE:GDDY), a leading internet domain registrar and web hosting company, announced the appointment of Jared Sine as Chief Strategy & Legal Officer, effective March 18, 2024. In his new role, Sine will oversee the company's Strategy, Legal, Corporate and Business Development functions, reporting directly to CEO Aman Bhutani.
Sine's career spans various roles where he has garnered experience in legal matters, corporate strategy, and business development. Before his move to GoDaddy, Sine served as Chief Business Affairs & Legal Officer at Match Group (NASDAQ:MTCH) since March 2021, where he was instrumental in the company's $20 billion separation from IAC/InterActiveCorp (NASDAQ:IAC) in 2020 and the acquisition of the dating app Hinge in 2018. His tenure at Match Group also involved leading initiatives that impacted the global app ecosystem.
Prior to his time at Match Group, Sine worked at Expedia (NASDAQ:EXPE) Group, managing all legal aspects of the company's strategic transactions, including mergers, acquisitions, and joint ventures. He began his legal career at the law firm Cravath, Swaine & Moore, later joining Latham & Watkins. Sine holds a Juris Doctor degree and a Bachelor of Science degree in Economics from Brigham Young University.
GoDaddy's CEO Aman Bhutani expressed enthusiasm about Sine's appointment, stating, "Jared brings deep expertise and highly varied business experience that will help GoDaddy and the entrepreneurs we serve thrive." Sine also commented on his new position, highlighting his passion for technology that simplifies tasks and expressing his eagerness to support GoDaddy's mission to empower entrepreneurs with its technology platform.
GoDaddy is known for providing tools and services that support entrepreneurs in starting, growing, and managing their businesses online. The company offers solutions for domain registration, website creation, customer attraction, product and service sales, and payment processing.
The information about Jared Sine's appointment is based on a press release statement from GoDaddy Inc.
InvestingPro Insights
As GoDaddy Inc. (NYSE: GDDY) welcomes Jared Sine to its executive team, the company's strategic and financial footing remains a pivotal aspect for investors to consider. According to InvestingPro data, GoDaddy boasts a market capitalization of $15.88 billion, underscoring its significant presence in the internet services industry. The company's Price to Earnings (P/E) ratio stands at 47.97, reflecting investor expectations of future earnings growth despite trading at a high earnings multiple. This high P/E ratio, in the context of near-term earnings growth, suggests that the market has confidence in GoDaddy's future profitability.
InvestingPro Tips indicate that management's aggressive share buyback strategy could signal confidence in the company's valuation and prospects. Additionally, GoDaddy is noted for its high shareholder yield, which may be appealing to investors seeking companies with potential for capital returns. Despite not paying dividends, the company has demonstrated strong performance with a significant return over the last three months, as evidenced by a 29.74% price total return.
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