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NEW YORK (AP) — Shares of GoDaddy, the Web hosting company known for racy TV commercials, rose 31 percent in their market debut.
The Scottsdale, Arizona, company sold 23 million shares for $20 each, raising $460 million. That was better than it expected. It had previously estimated it would get up to $19 per share.
The banks managing the IPO may buy up to 3 million more shares.
GoDaddy Inc. says it's the largest provider of Web domains and has about 13 million customers.
It posted a loss of $143.3 million in 2014, though its revenue grew 23 percent to $1.4 billion.
The stock rose $6.15 Wednesday to close at $26.15
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