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GoDaddy (GDDY) & Google Unite to Empower Small Businesses

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GoDaddy Inc. (GDDY - Free Report) is leaving no stone unturned to gain customer momentum on the back of robust solutions and strategic partnerships.

This is evident from the company’s latest collaboration with Alphabet’s (GOOGL - Free Report) Google to help small businesses reach millions of customers.

The small business customers of GoDaddy can create a Google Merchant Center account and product listings as well as promote their products across Google surfaces including Google Search, Google Images, Google Maps, YouTube and Gmail from GoDaddy’s online store.

Also, these businesses can introduce Google Smart Shopping campaigns to modify their marketing expenditure, promote products and generate higher profits.

The latest partnership offers a win-win situation to both the companies. The move is expected to bolster the adoption of Google’s surfaces. Further, it bodes well for the search giant’s e-commerce efforts.

The recent collaboration is also likely to expand GoDaddy’s reach to small businesses, which remain crucial. This might contribute to its revenues in the upcoming period.

GoDaddy’s Initiatives to Empower Small Businesses

Small businesses across the globe have witnessed a severe downturn due to the coronavirus pandemic. GoDaddy is strengthening its efforts to help these businesses stay afloat amid the pandemic.

The company’s launch of #OpenWeStand website to support small businesses with valuable resources including videos, articles, webinars and virtual consultations, discounted product and service offerings as well as other reliefs remains noteworthy.

It collaborated with one of the world’s renowned cricketers, Mahendra Singh Dhoni, for a marketing campaign to encourage small and local businesses in India create an online presence to help their ventures grow.

Further, GoDaddy’s partnership with AEO to offer training, tools and networking to help small businesses create a digital presence remains noteworthy.

GoDaddy’s Portfolio Strength

GoDaddy is making strong efforts to strengthen its portfolio of products and services for offering better solutions to customers.

In April, the company acquired Re:amaze to add communication solutions to its portfolio. This solution helps businesses engage with customers through email, text, online chat, social media, voice and video chat in a single shared box.

Additionally, GoDaddy introduced the Hub by GoDaddy Pro in late April for offering a new integrated project, site, and client management platform for website developers as well as designers.

In mid-June, it introduced GoDaddy Payments, a new payment solution that will seamlessly manage commerce transactions of GoDaddy Websites + Marketing and Managed WordPress WooCommerce customers.

Further, GoDaddy’s introduction of a plugin bundle expansion offering free access to a library of more than 75 premium WooCommerce extensions for Managed WordPress Ecommerce customers remains noteworthy.

We believe that these endeavors will continue to shape GoDaddy’s growth trajectory and sustain momentum in various end-markets served in the near term.

Zacks Rank & Stocks to Consider

Currently, GoDaddy carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector include Agilent Technologies (A - Free Report) and Apple (AAPL - Free Report) . While Agilent sports a Zacks Rank #1 (Strong Buy), Apple carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rates for Agilent and Apple are currently projected at 13% and 12.7% respectively.


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