GoDaddy's first day on Wall Street was no joke

GoDaddy is laughing all the way to the bank after its first day on Wall Street.


All jokes aside on April 1, GoDaddy was probably laughing all the way to the bank anyway after its first day as a publicly-traded company.

The domain hosting service's shares started trading at $26.15 a pop upon opening on the New York Stock Exchange on Wednesday morning under the ticker symbol "GDDY."

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That's 31 percent higher than the most recent forecast late on Tuesday, and trading remained relatively flat for the rest of the day.

Anticipation for GoDaddy's IPO reached a fever pitch following reports on Tuesday that shares were going to open at $20 a piece, raising the bar from the projected $17 to $19 price range a few weeks ago.

In a regulatory filing submitted in March, GoDaddy outlined plans for offering up 22 million shares of Class A common stock, translating to an estimated valuation of $2.87 billion.

After GoDaddy confirmed the IPO would launch at $20 per share, that valuation soared to roughly $4.5 billion.

Founded in 1997, GoDaddy's IPO has been a long time coming, accumulating more than 60 million personal and business domains under its umbrella over nearly two decades.

It's already turning out to be a big week for Silicon Valley on Wall Street.

Earlier on Tuesday, another tech darling -- albeit slightly younger but still a decade old -- is just launching its IPO roadshow.

Artisanal digital marketplace Etsy said it expects shares to fall between $14 and $16 at the start of trading with more than 16.6 million shares included in the IPO.

When it does go public, Etsy shares will trade on the Nasdaq stock exchange under the ticker symbol, "ETSY."

Screenshot via MarketWatch