Web.com

Web.com is an American dot-com company that provides a website builder,[1] along with website hosting, domain name registration, web development, and various digital marketing services. It serves as a partner for very small to small-sized businesses and entrepreneurs, assisting them in establishing and expanding their online presence.

Not to be confused with Web.com (1995–2007).

Web.com
FormerlyWebsite Pros Inc.
TypePrivate
PredecessorAtlantic Teleservices
Founded1999 (1999)
Headquarters5335 Gate Pkwy, Jacksonville, FL 32256,
Jacksonville, Florida
,
United States
Key people
Sharon Rowlands (CEO)
Products
Revenue$1.21 billion (June 2017)
OwnerSiris Capital
Number of employees
3,500 (2017)
Websiteweb.com

The company was founded in 1999 by Darin Brannan in Jacksonville, Florida as Website Pros Inc.. In early 2008 it took its current name after acquiring Atlanta-based company Web.com, which was founded in 1981 by Waldemar Fernández and was formerly known as Interland, Inc.[2]

In 2021, Web.com merged with Endurance Web Presence to form a new company, Newfold Digital.

Corporate overview

Web.com is based in Jacksonville, Florida and incorporated in Delaware,[3] and provides domain name registration and web development services, among others.[4][5] The company caters to very small and small businesses and offers a variety of subscription services designed for entrepreneurs including, [6][7] including design,[8] hosting, management, e-commerce, lead generation, mobile commerce, online advertising,[9][10] search engine optimization, and social media solutions.[11][12][13]

Web.com reportedly had 3.3 million subscribers in January 2016.[14] The company has offices in more than 20 U.S. states, and in Argentina (Buenos Aires), Canada (Barrie, Ontario, and Nova Scotia), and the United Kingdom (including Cardiff, Wales).[15] Web.com was traded as "WEB" on NASDAQ.[16][17]

David Brown served as Web.com's chief executive officer (CEO) until early 2019.[18][19] Okumus Fund Management was the company's top shareholder, with 18.64 percent as of March 2017. In 2015, Okumus and Web.com agreed to appoint two independent directors to its board.[4][20]

In May 2017, the company had 3,500 employees and a market capitalization of $1.1 billion.[4][10][21] Web.com has a $1.21 billion valuation, as of June 2017.[22]

History

Website Pros Inc.

David Brown established Website Pros Inc.'s predecessor, the technology services company Atlantic Teleservices, Inc.,[23][24] in Jacksonville in 1997.[14][25][26] Brown served as CEO until 1999, when he sold the company to Website Pros (Nasdaq: WSPI),[27] via the venture and growth equity investment firm Norwest Venture Partners.[26][28][29] Website Pros was founded in 1999 by Darin Brannan.[30][31] Brown joined the company's board of directors.[31]

The company planned to establish a chain of stores for people to access services to develop and maintain their own websites. The Collapse of the .com market in 2000, required the company to shift from a retail model to an indirect sales model to conserve capital. Brown then oversaw a series of acquisitions, averaging one per year for a decade. The largest of the acquired companies was NetObjects, a Redwood City, California-based software company best known for developing the web design tool NetObjects Fusion.[28] Website Pros purchased the company, including its GoBizGo and NetObjects Matrix assets,[32] in October 2001 for an undisclosed amount.[31]

Website Pros acquired the Spokane-based e-commerce services provider Innuity in 2002,[31] resulting in the merged company's change from an upfront fee structure to monthly subscriptions.[28] The company was growing by 40 percent annually by 2003,[28] and had 260 employees (around 150 in Jacksonville and 110 in Spokane) by the end of the year.[33] Website Pros received $17 million in venture capital, which included $10 million in December 2003 from Insight Venture Partners and $7 million Norwest in April 2004. The Jacksonville Business Journal reported that Website Pros had 40,000 clients, including Discover Business Services and IBM, at the time the company secured funding from Norwest.[33] Brown began preparing Website Pros for an initial public offering in 2004,[28] and the company went public in 2005.[6][34] Website Pros acquired eBoz and Leads.com, and reported $37.8 million in sales, in 2005.[30] In 2006, Julius Genachowski joined Web.com's board, along with Hugh M. Durden and G. Harry Durity.[35] Website Pros acquired the Canadian company 1ShoppingCart.com, which offers software e-commerce services, for $12.5 million,[34] as well as Renex, an online lead generation provider for contractors and homeowners, in late 2006.[36]

In 2007, Website Pros acquired the Atlanta-based company Web.com, which was founded in 1981 and formerly known as Interland, Inc.[37] Under the agreement, which was valued at $129 million, Website Pros paid $25 million in cash and the rest in stock.[38] Brown continued to serve as chairman and CEO of the merged company, and Jeff Stibel, who was serving as president and CEO of Web.com, became a president and board member of Website Pros.[39][40][41] The company remained headquartered in Jacksonville, and the merger resulted in a more than three-fold increase in the number of paid subscribers.[28]

Web.com (2008–present)

Website Pros changed its name to Web.com in early 2008.[42] In June, the company began trading as "WWWW"[23] on NASDAQ; executives commemorated the change by closing the stock exchange at Times Square's NASDAQ MarketSite on June 9.[27] Stibel served as president until 2009.[42] Web.com had nearly one million subscribers and was earning $120 million in revenue by the end of 2010.[28]

In 2012, the company became the title sponsor of the Web.com Tour, a developmental professional golf tour for the U.S.-based PGA Tour, in a deal that extends through 2021.[6][24] In conjunction with the tour, Web.com hosts "summits", or designated spaces for people to meet company representatives and learn about its offerings; Web.com hosted 27 of these events in 2013.[6][24] Financial News & Daily Record reported that the company had 500 employees in Jacksonville, plus an additional 1,400 in satellite offices, in October 2012.[26] By 2014, Web.com had 2,000 employees in the U.S., Canada, the United Kingdom, and Argentina.[24]

Web.com's customer service center in Drums, Pennsylvania opened in January 2016.[14][43] The company opened a digital customer service center in New Glasgow's Aberdeen Business Centre, in September 2016.[8][12][44] The office became Web.com's third call center in Nova Scotia; the company also has offices in Halifax and Yarmouth.[8][12][14] Web.com generated $710.5 million in revenue in 2016, an increase from $543.5 million in 2015.[4][21]

In March 2017, the International Customer Management Institute named Web.com a finalist in the "Best Large Contact Center" category at its annual Global Contact Center Awards, which recognize "companies and individuals that honor leadership, vision, innovation and strategic accomplishments within the customer service industry."[45] In May 2017, the company relocated 175 employees within Scottsdale, Arizona's SkySong development into the SkySong 4 building. Yodle, which was acquired by Web.com in 2016, had moved into SkySong in 2009. The new SkySong 4 office space will house administrative and sales operations.[10] The company was reportedly approached by private equity firms about a possible buyout in 2017.[4][5][46]

Acquisitions and partnerships

In recent years, Web.com has grown via acquisitions.[7] In 2023 it merged with ipage. The company acquired Solid Cactus, a provider of e-commerce and other online solutions, in 2009.[47] Web.com acquired Register.com in 2010 for $135 million,[48] resulting in an 80 percent increase in revenue and a four-fold increase in the number of customers.[28] The company's offices in Drums were formerly occupied by Network Solutions, a domain registration company acquired by Web.com in 2011 for $405 million and 18 million stock shares.[14][49][50] The acquisition increased Web.com's customer base to 3 million people, the number of domains under its management in 9 million, and the number of employees to nearly 2,000.[25][49] Web.com executives rang the closing bell at the NASDAQ MarketSite on February 28, 2012, to commemorate the company's acquisition of Network Solutions.[23] Web.com acquired SnapNames, an "expired"{cn} domain name service and marketplace,[51] and has a 50 percent partnership with Rightside in NameJet.[52][53] The company acquired Scoot.com, the largest online business directory network in the United Kingdom, in July 2014.[54] In 2016, Web.com purchased Rightside's domain name drop list registrar accreditations for $1.3 million,[52] and acquired the New York-based marketing services firm Yodle for more than $300 million.[7][10][16] The purchase marked Web.com's largest acquisition by volume to date, with 1,400 employees.[55] In December 2016, the company expanded into Latin America by agreeing to acquire the Argentina-based Donweb.com for $8 million.[7][56][57] The deal was completed in February 2017.[17] On November 14, 2019, Web.com closed its acquisition of Dreamscape Networks Limited.[58]

Web.com has partnered with other companies to enhance its offerings to customers. In 2009, Web.com partnered with Chase Paymentech to provide payment processing services,[59] as well as First Data to offer e-commerce, online marketing, and payment processing solutions to businesses.[60][61] In 2014, MasterCard and Web.com partnered to feature the former's Simplify Commerce solution, which launched in 2013, as a preferred payment provider.[62] According to the National Federation of Independent Business, Sam's Club partnered with Web.com in 2015 to offer online marketing services to small business owners.[63] In February 2017, Domain Name Wire reported that Web.com gave away 375,000 .xyz domains to its customers, as part of an agreement with the top-level domain's registry, which received an advertising credit worth $3 million.[64]

On June 21, 2018, Web.com announced an agreement to be acquired by an affiliate of Siris Capital Group, LLC. The agreement was for $25.00 per share in an all cash deal valued at approximately $2 billion.[65] On August 6, 2018, Web.com announced an amended agreement to be acquired by an affiliate of Siris Capital Group, LLC for a revised amount of $28.00 per share in Cash and at the end of the "Go Shop" period.[66]

Web.com merged with Endurance Web Presence to form a new company named Newfold Digital in 2021. Newfold Digital is a joint venture between Clearlake Capital, owner of Endurance Web Presences since 2021 and Siris Capital Group.[67][68]

References
  1. "Web.com eCommerce Wins Bronze Stevie Award in 2023 American Business Awards". newfolddigital.com. Newfold Digital. Retrieved April 27, 2023.
  2. "Website Pros and Web.com Sign Definitive Merger Agreement". ir.web.com. Archived from the original on October 6, 2011. Retrieved November 1, 2017.{{cite web}}: CS1 maint: unfit URL (link)
  3. "EDGAR Search Results". www.sec.gov. Retrieved October 16, 2018.
  4. Baker, Liana B.; Roumeliotis, Greg (May 25, 2017). "Exclusive: Website builder Web.com in talks with buyout firms -sources". Reuters. Retrieved June 12, 2017.
  5. Basch, Mark (May 26, 2017). "Reuters: Web.com considering buyout". Financial News & Daily Record. Jacksonville, Florida: Observer Media Group. Retrieved June 12, 2017.
  6. Olson, Elizabeth (June 28, 2012). "To Expand Its Brand, a Sponsor Goes Golfing". The New York Times. ISSN 0362-4331. OCLC 1645522. Retrieved June 12, 2017.
  7. Basch, Mark (December 19, 2016). "Web.com expects market to recognize value". Financial News & Daily Record. Retrieved June 12, 2017.
  8. Withers, Paul (September 28, 2016). "Web.com opens new customer-service centre in New Glasgow". CBC News. Retrieved June 12, 2017.
  9. "Web.com posts 1Q net income of $6.5 million". Fox Business Network. May 4, 2017. Retrieved June 12, 2017.
  10. Ringle, Hayley (May 10, 2017). "Florida tech company is new anchor tenant of SkySong 4 building". Phoenix Business Journal. American City Business Journals. Retrieved June 12, 2017.
  11. Mccoy, Adrian (June 12, 2017). "Web.com Group (WEB) Reaches $23.60 52-Week High, Usa Compression Partners LP (USAC) Had 1 Bulls". Utah Herald. Retrieved June 12, 2017.
  12. Dunn, Carol (September 28, 2017). "Web.com holds grand opening of New Glasgow office". The News. New Glasgow, Nova Scotia: SaltWire Network. Retrieved June 12, 2017.
  13. Preimesberger, Chris (February 11, 2016). "Web.com Says It Will Acquire SMB Online Marketer Yodle". eWeek. QuinStreet. ISSN 1530-6283. Retrieved June 13, 2017.
  14. Dino, Jim (January 15, 2016). "Wolf tours Web.com center, touts job growth". Standard-Speaker. Retrieved June 12, 2017.
  15. "Internet services company bringing hundreds of jobs to Nova Scotia". MetroNews.ca. Metro International. August 15, 2016. Retrieved June 12, 2017.
  16. Noto, Anthony (February 11, 2016). "Yodle agrees to $342M takeover offer from Web.com". New York Business Journal. American City Business Journals. Retrieved June 12, 2017.
  17. Werley, Jensen (February 2, 2017). "Web.com finalizes its international acquisition". Jacksonville Business Journal. American City Business Journals. Retrieved June 12, 2017.
  18. Werley, Jensen (February 9, 2017). "Small business lack confidence in their online presence, Web.com report shows". Jacksonville Business Journal. Retrieved June 12, 2017.
  19. Strauss, Steve (April 27, 2014). "Q&A with David Brown of Web.com". USA Today. Gannett Company. ISSN 0734-7456. Retrieved June 12, 2017.
  20. Webner, Richard (February 9, 2015). "Web.com reaches agreement with largest investor to add two directors to its board". The Florida Times-Union. Jacksonville, Florida: Morris Communications. ISSN 0740-2325. Retrieved June 12, 2017.
  21. Owusu, Tony (May 26, 2017). "Web.com Stock Rises on Reports of Buyout Talks". TheStreet.com. Retrieved June 12, 2017.
  22. Andrade, Stephen (June 6, 2017). "Okumus Fund Management LTD Has Trimmed Web Com Group (WWWW) Position By $756,000; Stadion Money Management Lowered By $336,260 Its Jpmorgan Chase & Co (JPM) Position". Key Gazette. Retrieved June 12, 2017.
  23. "Web.com Rings the NASDAQ Closing Bell: A Small Business Grows Up". Business Insider. Axel Springer SE. March 1, 2012. Retrieved June 13, 2017.
  24. "Web.com to host hospitality area at La. Open". The Advertiser. Lafayette, Louisiana: Gannett Company. March 25, 2014. Retrieved June 13, 2017.
  25. Turner, Kevin (August 5, 2011). "Web.com CEO bullish on hiring for First Coas". The Florida Times-Union. Retrieved June 13, 2017.
  26. Mathis, Karen Brune (October 8, 2012). "First Coast Success: David Brown, Web.com". Financial News & Daily Record. Retrieved June 13, 2017.
  27. "Website Pros to become Web.com June 9". Jacksonville Business Journal. June 5, 2008. Retrieved June 13, 2017.
  28. Barnett, Cynthia (June 7, 2011). "Web.com Group Earns 'Net' Income". Florida Trend. St. Petersburg, Florida: Times Publishing Company. ISSN 0015-4326. Retrieved June 13, 2017.
  29. Basch, Mark (February 6, 2006). "Serving the SMB community, one Web site at a time". The Florida Times-Union. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  30. Ibold, Ken (June 1, 2006). "IPO-No". Florida Trend. Retrieved June 14, 2017.
  31. Penland, Dolly (October 22, 2001). "Website Pros buys platform builder". Jacksonville Business Journal. Retrieved June 13, 2017.
  32. Hane, Paula J. (December 1, 2001). "Website Pros Acquire NetObject, Inc". Information Today. Information Today, Inc. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  33. Quesada, Tony (April 19, 2004). "Local Web site designer attracting national attention". Jacksonville Business Journal. Retrieved June 13, 2017.
  34. "Website Pros acquires Canadian company for $12.5M". Jacksonville Business Journal. October 3, 2006. Retrieved September 6, 2017.
  35. Snell, Bob (March 1, 2006). "Website Pros.(Players)". Florida Trend. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  36. Gibbons, Timothy (November 8, 2006). "Website Pros sees revenue climb". The Florida Times-Union. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  37. "Company Overview of Web.com, Inc. (Atlanta, GA)". Bloomberg.com. Bloomberg L.P. Retrieved June 13, 2017.
  38. "Website Pros, Web.com in merger agreement". Reuters. June 26, 2007. Retrieved June 13, 2017.
  39. Basch, Mark (June 28, 2007). "Website Pros merges with Web.com". The Florida Times-Union.
  40. Dickler, Jessica (January 30, 2007). "10 Web tips for entrepreneurs". CNNMoney. Time Warner. Retrieved June 13, 2017.
  41. "Website Pros to Buy Web.com". Yahoo! Finance. Associated Press. June 27, 2007. Archived from the original on July 1, 2007. Retrieved June 13, 2017.
  42. Basch, Mark (August 29, 2016). "Former Web.com president joins Kobe Bryant in $100M venture capital fund". Financial News & Daily Record. Retrieved June 12, 2016.
  43. Kellar, Travis (January 5, 2016). "Governor's office says Web.com expansion in Drums will create 74 jobs". Times Leader. Wilkes-Barre, Pennsylvania: Civitas Media. ISSN 0199-0519. Retrieved June 12, 2017.
  44. Colley, Sherri Borden (August 15, 2016). "Web.com Canada to open office in New Glasgow". CBS News. Retrieved June 12, 2017.
  45. "ICMI Recognizes 2017 Global Contact Center Award Finalists". Entertainment Close-up. March 12, 2017. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  46. Basch, Mark (June 5, 2017). "Merger diversifies Rayonier's business". Financial News & Daily Record. Retrieved June 12, 2017.
  47. Dino, Jim (April 4, 2013). "Solid Cactus Joins Sister Firm in Drums". Standard-Speaker. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  48. Murphy, Kevin (June 17, 2010). "Register.com sold at a $65 million loss". Domain Incite. Retrieved June 13, 2017.
  49. O'Dell, J. (August 3, 2011). "Web.com acquires Network Solutions for $405M plus stock". VentureBeat. Retrieved June 12, 2017.
  50. "Web.com to acquire Network Solutions". Computer News Middle East. August 4, 2011. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  51. Allemann, Andrew (March 3, 2014). "NameJet to retain Web.com expired domain inventory despite SnapNames acquisition". Domain Name Wire. Retrieved June 13, 2017.
  52. Allemann, Andrew. "Web.com paid $1.3 million for about 100 eNom registrars". Domain Name Wire. Retrieved June 12, 2017.
  53. "Web.com Swallows SnapNames, Afilias Gets .Green & Domains90210 Opens Auction Site Based in Beverly Hills". DN Journal. March 3, 2014. Retrieved June 13, 2017.
  54. Allemann, Andrew (July 31, 2014). "Web.com misses revenue target, acquires UK online directory company". Domain Name Wire. Retrieved June 14, 2016.
  55. Werley, Jensen (February 15, 2016). "Behind the Deal: Web.com's newest aquisition [sic]". Jacksonville Business Journal. Retrieved June 12, 2017.
  56. Werley, Jensen (December 12, 2016). "Breaking: International acquisition for Web.com". Jacksonville Business Journal. Retrieved June 12, 2017.
  57. "Brief – Web.com announces agreement to acquire Donweb.com". Reuters. December 12, 2016. Retrieved June 12, 2017.
  58. "Web.com Closes Acquisition of Dreamscape Networks". GlobalNewswire. November 14, 2019. Retrieved May 26, 2020.
  59. "Briefs". Cardline. March 13, 2009. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  60. "Web.com and First Data Team to Offer Online Marketing and eCommerce Solutions". Health & Beauty Close-Up. September 8, 2009. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  61. "Web.com and First Data Team on Online Marketing and eCommerce Solutions". Health & Beauty Close-Up. September 9, 2017. Archived from the original on November 7, 2017. Retrieved June 14, 2017.
  62. MasterCard:
  63. "Sam's Club Adds New Product: Small Business Loans". States News Service. April 23, 2015. Archived from the original on November 15, 2018. Retrieved June 14, 2017.
  64. Allemann, Andrew (February 8, 2017). "Breaking: Verisign loses appeal in .XYZ lawsuit". Domain Name Wire. Retrieved June 12, 2017.
  65. "Web.com Announces Agreement to Be Acquired by an Affiliate of Siris Capital Group, LLC for $25.00 Per Share in All Cash Deal Valued at Approximately $2 Billion | Web.com Group, Inc". Web.com Group, Inc. Retrieved August 22, 2018.
  66. "Web.com Announces Amended Agreement to be Acquired by an Affiliate of Siris Capital Group, LLC for $28 Per Share in Cash and End of "Go Shop" Period | Web.com Group, Inc". Web.com Group, Inc. Retrieved August 22, 2018.
  67. "Web.com merges with competitor, becoming Newfold Digital". Jacksonville Daily Record. February 11, 2021.
  68. "Clearlake Completes Acquisition of Endurance International Group and Strategic Investment Transactions With Web.com and Affiliates of Siris; Announces Formation of Newfold Digital" (Press release). Clearlake Capital Group; Siris Capital Group. PR Newswire. February 10, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.