Small business domain host GoDaddy announced that it's paying $125 million to acquire Main Street Hub, makers of a social media management platform for small businesses.
This deal marks the first acquisition for GoDaddy since Scott Wagner took over as CEO following the departure of Blake Irving last month.
Main Street Hub provides services designed to help small businesses optimize their social media presence and connect with customers without having to put in all the work themselves.
GoDaddy says it plans to integrate Main Street Hub's services into a new suite of "do-it-for-me" capabilities that SMBs can use to build and manage their online presence.
"GoDaddy's 17 million small business customers come to us because they know their online presence can help them reach their customers and grow their businesses, but even with the right tools, customers struggle to find the time or know-how to effectively manage their social media presence," said Lauren Antonoff, SVP of Presence and Commerce at GoDaddy.
"Joining forces with Main Street Hub better enables us to help our customers reach their goals, while saving them time and offering peace of mind."
PREVIOUS AND RELATED COVERAGE
GoDaddy says GoCentral allows users to create a complete website from a mobile device in under an hour.
The deal will help GoDaddy expand its portfolio with a broader range of cloud-based services for small businesses, as well as advance the company's push into the European market.
The deal will bolster GoDaddy's portfolio of services geared toward web developers and designers.