Design Start Up Canva gets $3.6 million in additonal funding and enters partnership with Go Daddy

Australian start-up Canva received an additional $3.6 million in financing and announced a partnership with Go Daddy. The product does seem cool for those that don’t have the skills of a trained graphic artist.

Crunch Base – Canva makes graphic design amazingly simple for everyone, by bringing together a drag-and-drop design tool with a library of more than 1 million stock photographs, graphic elements and fonts.

Canva makes graphic design amazingly simple for everyone, by bringing together a drag-and-drop design tool with a library of more than 1 million stock photographs, graphic elements and fonts. – See more at: http://www.crunchbase.com/organization/canva#sthash.DTJUsIgV.dpuf
Canva makes graphic design amazingly simple for everyone, by bringing together a drag-and-drop design tool with a library of more than 1 million stock photographs, graphic elements and fonts. – See more at: http://www.crunchbase.com/organization/canva#sthash.DTJUsIgV.dpuf

Computer World wrote:

Australian startup Canva has announced an additional $3.6 million in funding and new partnerships with website hosts to integrate its quick graphic design tool.

The Sydney-based startup, which counts former Apple luminary Guy Kawasaki as its chief evangelist, has signed agreements with GoDaddy, Tailwind, Agora Pulse, Post Planner and TabSite to integrate Canva into their Web platforms.

Under the partnerships, each company will add Canva “design” buttons next to existing upload options. Users can click the button to quickly design graphics without leaving the website.

Canva is accepting applications from interested third-party websites that wish to add a design button, with the button rolling out over the next few weeks, Canva said.

“Instead of just offering an ‘Upload’ button and expecting users to figure out the rest, the Canva Button enables a website’s users to easily create graphics without leaving their page,” said Canva CEO Melanie Perkins.

Read the full story here

Godaddy Changing Domain Auction Rules On Time Extension Starting Monday

I just received an email from Godaddy.com that they are making a change to the closing rules on the Godaddy.com domain auction platform, which is to take place on Monday, 7/14/2014.

“As it stands now, any bid that is placed in the last 5 minutes of an auction auto-extends the auction by 5 minutes.”godaddylogo

“This will change to auto-extend to only 1 minute, and a maximum time of 5 minutes 59 seconds (5:59).”

“For example, if you place a bid on an auction that has 4:30 left, it will auto-extend this auction to 5:30.”

Personally I’m not sure why they are doing this, seems as it will only lead to more bid snipping and wind up with lower sales prices.

I am also not sure why they waited until after 5pm EST on a Friday to notify customers of the change that takes place on Monday.

I just got this additional information from Godaddy:

“Any bid that increases the current price will auto extend the auction as it always has. We are making it so that a bidder who increases their proxy wont trigger the autoextend because the current price wont update. Moving from a (5m + current time left) end time to just 5-6 minutes max should not increase sniping and still gives bidders time to get a new bid in.”

I guess we will just have to see what happens on Monday

 

Go Daddy Acquires Smart Calendar App Canary

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Go Daddy Acquires Smart Calendar App Canary

Vator.tv reported on Go Daddy acquiring smart calendar app Canary, no price tag on the deal .

From the article:

Web-hosting and domain registration giant GoDaddy has purchased smart calendar app Canary, it was revealed via a post on on Canary’s website on Thursday.

No financial terms of the deal were disclosed, but Canary did reveal that the purchase was an acqui-hire. Not only will the Canary team be coming to work at GoDaddy, but the Canary app will actually to continue to work for existing users, just without any further updates.

“Thanks to our latest update, Canary will continue to work as a standalone app on your iPhone, and you should have no problems with it unless there is a major change to one of the underlying services,” the company wrote. “We will make sure that Canary remains available on the App Store until we’re confident all of our existing users have had a chance to upgrade.”

Canary is a calendar app for the iPhone that allows Google Calendar users to schedule meetings. Users can create events that integrate with their phone contacts to easily send invitations, as well as integrate with Foursquare to find the location of the event as well.

The app also features a home screen called Nest View that gives users a visual countdown of their next event and sends a pre-composed message to update the other attendees if the event if changed.

Read the full article here

Go Daddy Launches Mobile Payment System “Get Paid”

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Go Daddy launched Get Paid today a new mobile payment service that partners with Paypal, Stripe and Dwolla. Tech Crunch covered the launch. These types of products are the ever continuing push to focus on small business and become a player in areas where Go Daddy did not compete prior to Blake Irving becoming CEO.

From the article:

As GoDaddy gears up for a $100 million IPO, the domain and web services company is adding on more features that will help it make more profitable revenues from its 12 million small-business customers. The latest of these puts GoDaddy further into the world of e-commerce.

Today, it is launching “Get Paid,” a new online and mobile payments service created with existing digital payments heavyweights PayPal, Dwolla and Stripe.

Get Paid will let users, most of whom had not been taking payments electronically before, accept credit cards, debit cards, eChecks (ACH) and PayPal transfers, and it will be available first to GoDaddy’s 9 million users in the U.S.

GoDaddy will offer it in three service tiers starting at $4/month and increasing up to $15/month depending on added features like expense tracking, connecting your bank account and other accounting integrations.

Read the full article here

Go Daddy Now Carrying $1.5billion in debt

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Jeff Bailey wrote a good piece on Seeking Alpha about the upcoming Go Daddy IPO. This article is worth reading for those contemplating investing in Go Daddy. Bailey does a good job at looking at the metrics Go Daddy uses and a look at their past financial history.

As far as metrics go Bailey points out that Go Daddy likes to focus on bookings rather than revenue.

In its IPO filing, GoDaddy makes clear it prefers different metrics. It likes bookings, which are all the cash receipts taken in during a given period, better than revenue. It only records revenue as the domain name and other customer agreements progress, so a two-year domain name rental paid up results in revenue spread out over 24 months. Bookings for 2013 were $1.40 billion, versus revenue of $1.13 billion. Some sales don’t stick, however, and GoDaddy is forced to make refunds: $96.1 million of refunds in 2013.

GoDaddy also likes adjusted EBITDA, which omits those pesky depreciation and amortization expenses. And it’s also enamored by a metric known as unlevered free cash flow, which is akin to a consumer making a monthly budget that omits the mortgage payment. It’s fun to dream.

Bailey also points out that the last time Go Daddy was profitable on a full year basis was back in 2009.

GoDaddy was last profitable on a full-year basis in 2009, with net income of $14.6 million on revenue of $610.3 million. A modest loss in 2010 was followed by big losses in the following three years. It reported a net loss of $51.3 million for the quarter ended March 31, roughly equal to last year’s quarterly loss.

Go Daddy also boosted its debt by paying a $350 million special dividend to KKR, Silver Lake Partners, Technology Crossover Ventures and founder Bob Parsons.

Read the full article here as it gives a good synopsis of what the Go Daddy investment picture is.

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