Starboard acquires stake worth $800 million in GoDaddy – WSJ

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Shares of GoDaddy, which have dropped 8% so far this year, rose 2.6% in premarket market trading.

According to the report, Starboard plans to push the company to improve its performance.

Arizona-based GoDaddy has seen a surge in online traffic as several businesses increasingly shifted to digital operations due to the COVID-19 pandemic.

Starboard Value and GoDaddy did not immediately respond to Reuters requests for comment.