GoDaddy (GDDY) 2024 RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference summary

Recent performance and strategic focus

• Strong quarterly results driven by momentum in Apps & Commerce, with pricing and bundling initiatives fueling growth and margin improvement.

• Bundling started with productivity products, especially email and security, offering customers more value and higher engagement at both renewal and acquisition.

• Bookings in Apps & Commerce segment grew around 20%, with opportunities to expand bundling across domains and hosting.

• Consolidation of the technology stack into the Airo platform enables more effective bundling and customer engagement.

• Infrastructure simplification led to a move to a new Tempe headquarters, supporting operational efficiency.

Product innovation and customer journey

• Bundling is a multi-year opportunity, leveraging a 21 million customer base to drive attach rates and incremental value.

• Focus remains on entrepreneurs and small businesses, emphasizing personalized care and support.

• Innovation is guided by 'ruthless prioritization,' with experimentation and customer needs at the core.

• Airo, the AI platform, launched over a year ago, is central to product evolution and customer engagement.

• Data-driven insights from Airo inform product improvements and customer experience enhancements.

Airo platform and monetization

• Airo is now globally available and integrated into the customer journey for both new and existing users.

• Early engagement metrics are positive, with 40% of paid subscriptions coming from Airo, but monetization is still in early stages.

• The platform supports site optimization and migration, offering tailored paths for different customer segments.

• Value-based pricing is being explored, leveraging customer data to optimize monetization strategies.

• The journey to full monetization and customer conversion is expected to be multi-year, with ongoing iteration.