GoDaddy’s IPO to value Web hosting firm at up to $2.87 billion

Web hosting company GoDaddy Inc’s initial public offering is expected to value the company at up to $2.87 billion and comes at a time when there has been a steep fall in the number of companies going public in the United States.

The IPO market has had a slow start this year compared with 2014 when U.S. IPOs raised about $93 billion, the highest since 2000. Only two technology companies have gone public this year, including online data storage provider Box Inc. But IPO analysts expect GoDaddy, which manages about a fifth of the world’s Internet domains, to fare better than Box due to demand for stock offerings from well-established brands with steady revenue streams.