Technology Crossover Ventures Reports 21.2% Passive Stake In GoDaddy
Shares of Godaddy Inc (NYSE: GDDY) were trading lower by more than 2 percent on Thursday, despite the fact that a major shareholder reported a large stake in the company.
Robert W. Trudeau's Technology Crossover Management reported a 21.2 percent passive stake in GoDaddy.
Technology Crossover Management is a provider of growth capital to technology companies. The fund entered into a partnership with GoDaddy in 2011 along with KKR and Silver Lake.
Shares of GoDaddy have lost nearly 25 percent of their value since the start of 2016.
Image Credit: By George Socka from Toronto, Canada [CC BY 2.0], via Wikimedia Commons
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