GoDaddy is the world's largest domain registrar, managing roughly 81 million domains — about 21% of all registered domains globally. The company operates as a one-stop-shop platform for micro-businesses and solopreneurs, starting customers with a domain purchase and cross-selling websites, email, digital marketing, and commerce tools. GoDaddy sells primarily direct-to-consumer through its website and app, serving customers in over 200 markets, with roughly a third of revenue coming from outside the U.S. The business reports two segments: Core Platform (~62% of revenue), which includes domain registrations, aftermarket domain sales, hosting, and security; and Applications & Commerce (~38% of revenue, growing faster), which includes website builders, Microsoft 365 resold to GoDaddy customers, and commerce tools including GoDaddy Payments and merchant cash advance. The business model is built on recurring subscriptions — domains and most other products auto-renew annually — with cash collected upfront. Key financial drivers are customer retention (~85% overall), ARPU expansion ($242 in FY25), and cross-sell attach rates (over 50% of customers now hold multiple products). GoDaddy Airo, its AI-powered onboarding experience, is designed to accelerate attach rates from the initial domain purchase. The company is also investing in an "agentic" AI platform to automate tasks for small business owners. Capital allocation is heavily weighted toward share buybacks, with GoDaddy reducing its diluted share count by ~33% since 2021.