Endurance International Group
![]() | |
Nasdaq: EIGI (2013-2021) | |
Industry | Internet hosting services |
Predecessor | BizLand |
Founded | 1997 |
Founders |
|
Headquarters | , US |
Number of locations | Worldwide |
Key people | |
Services | Web hosting, domain registration, SEO, email marketing |
Number of employees | Over 2,500 (2016) |
Parent | Clearlake Capital |
Website | newfold |
Endurance International Group (EIG), previously named BizLand, was an IT services company specializing in web hosting. The company was founded in 1997 and headquartered in Burlington, Massachusetts, USA.[1] In 2021 Endurance International Group merged with Web.com forming a new company, Newfold Digital. It is one of the Internet's largest webhosting providers, the company was structured differently from other large hosting companies such as Rackspace, GoDaddy, or 1&1 Ionos. The company has grown its hosting and related business through numerous acquisitions.[2][3][4]
History
![]() | This section may require cleanup to meet Wikipedia's quality standards. The specific problem is: WP:PROSELINE. (September 2022) |
In 2011, Endurance was bought from Accel-KKR by Warburg Pincus and GS Capital Partners, for around $975 million.[5] In September 2013, the company announced plans to raise $400 million in an IPO.[6] The company announced it would list on the NASDAQ under the ticker symbol EIGI.[7] It went public in October 2013 raising $252 million selling shares to the public at $12 each. This was below the company's target goal of $400 million.[8][9]
This path to increased size is similar to the path networking company Verio followed in the 1990s, using free cash flow and access to capital markets[10] in acquiring assets to add to their corporate portfolio.[2] The concept was to roll up small ISPs into one large ISP and achieve economies of scale. Endurance acquired hosting companies domestically and internationally.[4]
In March 2015, the company announced an investment in Netherlands-based technology startup AppMachine, acquiring 40% of the company.[11][12] In August 2015, EIG announced the acquisition of Site5 and Verio Web Hosting from NTT. It is estimated that EIG gained 86,000+ new subscribers through these acquisitions.[13][14] In November 2015,[15] the company acquired Constant Contact, and days later laid off 15% of their workforce.[16] Also in November 2015, EIG acquired the assets of Ecommerce, LLC for $28 million.[17]
In August 2018, the firm's CEO and CFO were fined US$8 million for fraud by the Securities and Exchange Commission (SEC) for misrepresenting company subscriber numbers.[18]
Endurance acquired Ecomdash in October 2019 for $9.6 million in cash, and placed it under the Constant Contact group.[19][20][21]
In November 2020, Clearlake Capital Group announced that it would acquire Endurance International Group for around $3 billion.[22] At the closing of the deal in February 2021, Clearlake Capital announced a few wrinkles. Clearlake spun off the Endurance Web Presence division, including subsidiaries Domain.com, Bluehost, and HostGator.
Endurance Web Presence merged with Web.com to form a new company, Newfold Digital, in 2021. Newfold Digital is a joint venture between Clearlake Capital and Siris Capital Group, owner of Web.com since 2018.[23][24]
Clearlake also spun off the Constant Contact division of Endurance into a separate joint venture between Clearlake and Siris.[25]
Subsidiary brands
The company has owned and operated numerous hosting businesses, with shared support information and support agents. Subsidiaries and brands include:[26][27]
References
- ^ "The Endurance International Group, Inc". Bloomberg Businessweek. Archived from the original on July 24, 2010. Retrieved April 12, 2011.
- ^ a b "Endurance, GoDaddy, Wix, And Web.com: Choosing Growth Or Leverage". seekingalpha.com. 27 March 2015.
- ^ "Endurance International Group (EIG) – The World's Largest Web Hosting Company You've Probably Never Heard Of". hostingkingdom.com. 24 November 2014.
- ^ a b Miller, Rich (May 9, 2007). "IPOWER, Endurance International Announce Merger". NetCraft.com.
- ^ Demos, Telis (15 March 2013). "Web Hoster Endurance International Preps for IPO". Wall Street Journal. WSJ. Retrieved 17 April 2014.
- ^ "Form S-1". www.sec.gov.
- ^ "Endurance International Group Holdings, Inc. Common Stock (EIGI)". NASDAQ.com.
- ^ "ENDURANCE INTERNATIONAL GROUP HOLDINGS, INC. (EIGI) IPO". NASDAQ.com.
- ^ Bray, Hiawatha (October 26, 2013). "Endurance Web hoster Endurance raises $252 million in IPO". The Boston Globe. Retrieved February 9, 2023.
- ^ "Verio Secures Funding for Acquisitions". internetnews.com.
- ^ "AppMachine Partners Up With Endurance International Group". AppMachine.com.
- ^ "AppMachine raises $15.2 million, partners with Endurance International Group". StartupJuncture.
- ^ "Endurance International Group Reports 2015 Second Quarter Results". marketwatch.com. Aug 4, 2015. Retrieved 2016-05-18.
- ^ "EIG's Acquisition of Verio and Site5 Nets 86,000 New Subscribers". Web Host Industry Review. Retrieved 2016-03-29.
- ^ "Email marketing giant Constant Contact acquired for $1 billion". VentureBeat. 2 November 2015. Retrieved 2015-11-02.
- ^ "Constant Contact Cuts 15 Percent of Staff After Its Acquisition". Xconomy.com.
- ^ "EIG Reports 2015 Fourth Quarter and Full Year Results" (Press release). Retrieved 2016-10-07.
- ^ "Indian-origin executive settles charges with SEC, another charged for making false claims". The Times of India. 25 August 2018. Retrieved 2019-07-31.
- ^ Batavia, Gaurav (September 10, 2019). "Endurance International to acquire Ecomdash for $9.6M". Seeking Alpha.
- ^ "Endurance International Group Reports 2019 Fourth Quarter and Full Year Results". GlobeNewswire News Room (Press release). Endurance International Group Holdings. 2020-02-06. Retrieved 2020-04-15.
- ^ "Endurance International Group Holdings Inc (EIGI) Q3 2019 Earnings Call Transcript". The Motley Fool. 2019-11-01. Retrieved 2020-04-15.
- ^ "Endurance International Group Announces Agreement to be Acquired by Clearlake Capital Group L.P. for $9.50 per Share". Clearlake.com (Press release). Clearlake Capital. 2020-11-02. Retrieved 2020-11-02.
- ^ "Web.com merges with competitor, becoming Newfold Digital". jaxdailyrecord.com; Jacksonville Daily Record. February 11, 2021.
- ^ "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.
- ^ "Clearlake And Siris Affiliates Re-Establish Digital Marketing Industry Pioneer Constant Contact As Standalone Company" (Press release). Clearlake Capital Group; Siris Capital Group. PR Newswire. 2021-02-10. Retrieved 2021-05-23.
- ^ "Thoughts on Endurance International Group (EIG) Hosting". linux-depot.com. November 15, 2013.
- ^ "Endurance International Group, Inc". Hosting-Reviews-Exposed.com. 6 September 2010.
External links
- Official website for Newfold Technologies
- Historical business data for Endurance International Group, Inc.:
- SEC filings
- Endurance International Group
- Companies based in Burlington, Massachusetts
- Companies based in Jacksonville, Florida
- American companies established in 1997
- Web hosting
- Companies formerly listed on the Nasdaq
- 1997 establishments in Massachusetts
- Technology companies established in 1997
- Technology companies based in Massachusetts
- Warburg Pincus companies
- 2013 initial public offerings
- 2021 mergers and acquisitions
- Private equity portfolio companies