GoDaddy Inc's shares rose as much as 34 percent in their debut on Wednesday following a $460 million initial public offering, as investors spotted a bargain in a company making a shift from Internet domains to small-business services. Founded 18 years ago by Bob Parsons, GoDaddy is hardly a technology start-up, yet investors snapped up its shares in the first day of trading, betting the company can grow further by providing tools to small businesses. "Even though GoDaddy is almost 20 years old, it's a growth company and it's cash flow-positive, which is what investors are interested in," said Jackie Kelley, global and Americas IPO leader for Ernst & Young.
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