SCOTTSDALE, Ariz., Nov. 4, 2019 /PRNewswire/ -- GoDaddy Inc.
(NYSE: GDDY), the company that empowers everyday entrepreneurs,
today announced its strategic partnership with Kabbage, Inc., a
data and technology company providing small businesses cash flow
solutions. Kabbage's online lending platform is now available
to GoDaddy's U.S. customers so they can easily access a business
line of credit in minutes to manage and grow their businesses.
By completing a simple application process from Kabbage,
customers can quickly access flexible lines of credit of up to
$250,000 in minutes if approved. With
increased financial capacity, GoDaddy customers can access the
extra cash flow to staff up for the busy holiday season, purchase
additional inventory or equipment, apply it toward digital
marketing initiatives, or other strategic investments to support
their ventures.
"Working every day with our small business customers has made us
intimately familiar with what our customers are doing to
successfully grow their business, as well as common challenges,"
said Melissa Schneider, GoDaddy's
vice president of global marketing operations. "We know that a lack
of capital for marketing and other core activities remains a major
roadblock to accelerate growth. Our partnership with Kabbage is key
in our ongoing mission to empower our customers and provide them
with the resources they need to fuel their business needs."
GoDaddy and Kabbage surveyed over 500 entrepreneurs to gain a
deeper understanding of how small business owners overcome
obstacles in growing their business. Most impressively, 60 percent
of respondents experienced an increase in revenues after investing
in online advertising. Other notable findings include:
- Having a website for their business is the most helpful digital
tool for growing and expanding (43 percent), followed by social
media marketing (35 percent).
- As a result of investing in online advertising, 44 percent of
respondents reported an uplift in sales as high as 25 percent.
- When asked about roadblocks to growing their company's digital
presence or online advertising, close to 50 percent chose a lack of
money as the most significant impediment.
No fees are required to apply for Kabbage Funding through
GoDaddy. Moreover, qualified small business owners are not
obligated to make withdrawals, meaning their line of credit will be
there when they need it and they won't pay anything until they
access funds. As a special courtesy to existing GoDaddy customers,
small business owners can take advantage of $100 off their first month's fees. This
hassle-free approach to lending allows small businesses the
flexibility to seamlessly manage their cash flow along with their
other services from GoDaddy.
"Our customer base of over 200,000 small businesses across the
U.S. understands the value of accessing the exact amount of funding
they need when they need it," said Kabbage CRO Laura Goldberg. "Our
customers tell us all the time that flexible funding is critical to
grow and run their business; new opportunities make it important to
be able to access capital quickly whether for online marketing,
inventory or purchasing new equipment. They simply can't afford to
wait weeks or months for a loan approval. With GoDaddy, we pair the
best of both worlds so more small businesses have a competitive
advantage to quickly deploy and fund marketing initiatives so they
may capitalize on opportunities."
For more information, please visit GoDaddy.com.
About GoDaddy
GoDaddy is empowering everyday
entrepreneurs around the world by providing all of the help and
tools to succeed online. With 19 million customers worldwide,
GoDaddy is the place people come to name their idea, build a
professional website, attract customers and manage their work. Our
mission is to give our customers the tools, insights and the people
to transform their ideas and personal initiative into success. To
learn more about the company visit www.GoDaddy.com.
About Kabbage
Kabbage, Inc., headquartered in
Atlanta, is a data and technology
company providing small businesses cash flow solutions, including
its online lending platform which provides small businesses access
to lines of credit up to $250,000.
Its technology analyzes small businesses' real-time data such as
online sales, banking information, shipping activity and dozens of
other sources to provide a fully automated funding decision in
minutes. To date, Kabbage has provided more than 200,000 small
businesses access to over $8 billion
of working capital. Kabbage is funded and backed by leading
investors, including the SoftBank Vision Fund, BlueRun Ventures,
Mohr Davidow Ventures and others. All Kabbage Funding U.S.-based
loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank,
Member FDIC. For more information, please
visit www.kabbage.com.
© 2019 GoDaddy Inc. All Rights Reserved.
Source: GoDaddy, Inc.
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