Company:Newfold Digital

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Short description: Information technology services company specializing in web hosting
Endurance International Group, Inc.
NASDAQ: EIGI (2013-2021)
IndustryInternet hosting services
PredecessorBizLand
Founded1997 (1997)
Founders
  • Hari Ravichandran
  • Ravi Agarwal
Headquarters
Burlington, Massachusetts
,
United States
Number of locations
Worldwide
Key people
  • Jeff Fox (CEO)
  • Marc Montagner (CFO)
  • David Bryson (CLO)
  • Kim Simone (COO)
ServicesWeb hosting, domain registration, SEO, email marketing
Number of employees
Over 2,500 (2016)
ParentClearlake Capital Group, L.P.
Websitenewfold.com

Newfold Digital (formerly Endurance International Group (EIG) and BizLand, and merged with Web.com in 2021), is an IT services company specializing in web hosting. The company was founded in 1997 and is headquartered in Burlington, Massachusetts , USA.[1] It achieved its size by acquiring a large number of smaller companies, which it continues to operate under the original brand names, while moving their IT infrastructure to India.[2]

In 2011, Endurance was bought from Accel-KKR by Warburg Pincus and GS Capital Partners, for around $975 million.[3] In September 2013, the company announced plans to raise $400 million in an IPO.[4] The company announced it would list on the NASDAQ under the ticker symbol EIGI.[5] 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.[6][7]

In a 2015 investor earnings conference call, the company reported having 4.2 million worldwide customers.[8]

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[9] in acquiring assets to add to their corporate portfolio.[10] The concept was to roll up small ISPs into one large ISP and achieve economies of scale. Endurance is acquiring hosting companies domestically and internationally.[2]

Blake Cunneen, Endurance's senior vice president of corporate development has stated:

"Investing in mergers and acquisitions is a very accretive use of free cash flow and going forward we'll continue to do so. We don't have any deals we're announcing. But we told the Street to expect M&A growth to continue.

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] This acquisition included a total of 72,000 subscribers from three different hosting brands: IX Web Hosting, Cloud by IX, and Host Excellence.

In August 2018, the firm's CEO and CFO were fined United States dollar 8 million for fraud by the 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 April 2020, Endurance group won the Google Cloud Expansion Partner of the Year for Asia Pacific.[22]

In November 2020, Clearlake Capital Group announced that it would acquire Endurance International Group for around $3 billion.[23]

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 named Newfold Digital in 2021. Newfold Digital is a joint venture between Clearlake Capital (short-time owner of Endurance) and Siris Capital Group (owner of Web.com since 2018[24]).[25] The CEO and all but one "C-level" officers from Web.com were retained after the merger, although EIG was much larger than Web.com.[26] Web.com's strategy, like EIG's, was to grow through acquiring brands which they continued to operate, although they generally did not relocate the infrastructure of their acquired brands.

Clearlake also spun off the Constant Contact division of Endurance into a separate joint venture between Clearlake and Siris.[27]

Company structure

Becoming one of the Internet's largest Web hosting 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.[10][28]

Subsidiary brands

The company has owned and operated numerous hosting businesses, with shared support information and support agents. A partial list of subsidiaries and brands include:[29][30]


References

  1. ↑ 1.0 1.1 1.2 1.3 "The Endurance International Group, Inc.", Bloomberg Businessweek. Retrieved April 12, 2011
  2. ↑ 2.00 2.01 2.02 2.03 2.04 2.05 2.06 2.07 2.08 2.09 2.10 Rich Miller, IPOWER, Endurance International Announce Merger, NetCraft, May 9, 2007
  3. ↑ Demos, Telis. "Web Hoster Endurance International Preps for IPO". WSJ. https://blogs.wsj.com/deals/2013/03/15/web-hoster-endurance-international-preps-for-ipo/. 
  4. ↑ "Form S-1". https://www.sec.gov/Archives/edgar/data/1237746/000119312513361255/d555515ds1.htm. 
  5. ↑ "Endurance International Group Holdings, Inc. Common Stock (EIGI)". http://www.nasdaq.com/symbol/eigi. 
  6. ↑ "ENDURANCE INTERNATIONAL GROUP HOLDINGS, INC. (EIGI) IPO". http://www.nasdaq.com/markets/ipos/company/endurance-international-group-holdings-inc-409100-73448. 
  7. ↑ "Endurance Web hoster Endurance raises $252 million in IPO - The Boston Globe". https://www.bostonglobe.com/business/2013/10/25/endurance-web-hoster-endurance-raises-million-ipo/0mwVrnj7qmz3qefHXkRYyM/story.html. 
  8. ↑ "Earnings Call Transcript". Seeking Alpha. 5 May 2015. http://seekingalpha.com/article/3140466-endurance-international-groups-eigi-ceo-hari-ravichandran-on-q1-2015-results-earnings-call-transcript. 
  9. ↑ "Verio Secures Funding for Acquisitions - InternetNews.". http://www.internetnews.com/fina-news/article.php/35251/Verio+Secures+Funding+for+Acquisitions.htm. 
  10. ↑ 10.0 10.1 Techonoclast (27 March 2015). "Endurance, GoDaddy, Wix, And Web.com: Choosing Growth Or Leverage". http://seekingalpha.com/article/3034376-endurance-godaddy-wix-and-web-com-choosing-growth-or-leverage. 
  11. ↑ "AppMachine Partners Up With Endurance International Group". AppMachine. http://www.appmachine.com/blog/appmachine-gets-15-2-million-investment-endurance/. 
  12. ↑ "AppMachine raises $15.2 million, partners with Endurance International Group". StartupJuncture. http://startupjuncture.com/2015/02/24/appmachine-raises-15-2-million-partners-with-endurance-international-group/. 
  13. ↑ 13.0 13.1 "Endurance International Group Reports 2015 Second Quarter Results" (in en-US). Aug 4, 2015. http://www.marketwatch.com/story/endurance-international-group-reports-2015-second-quarter-results-2015-08-04. 
  14. ↑ "EIG's Acquisition of Verio and Site5 Nets 86,000 New Subscribers" (in en-US). http://www.thewhir.com/web-hosting-news/eigs-acquisition-of-verio-and-site5-nets-86000-new-subscribers. 
  15. ↑ 15.0 15.1 "Email marketing giant Constant Contact acquired for $1 billion". https://venturebeat.com/2015/11/02/email-marketing-giant-constant-contact-acquired-for-1-billion/. 
  16. ↑ "Constant Contact Cuts 15 Percent of Staff After Its Acquisition". Xconomy. http://www.xconomy.com/boston/2016/02/12/constant-contact-cuts-15-percent-of-staff-after-its-acquisition/. 
  17. ↑ 17.0 17.1 "EIG Reports 2015 Fourth Quarter and Full Year Results". http://ir.endurance.com/releasedetail.cfm?ReleaseID=955530. 
  18. ↑ "Indian-origin executive settles charges with SEC, another charged for making false claims - Times of India". https://timesofindia.indiatimes.com/nri/indian-origin-executive-settles-charges-with-sec-another-charged-for-making-false-claims/articleshow/65539541.cms. 
  19. ↑ Batavia, Gaurav (September 10, 2019). "Endurance International to acquire Ecomdash for $9.6M". https://seekingalpha.com/news/3498143-endurance-international-acquire-ecomdash-9_6m. 
  20. ↑ Inc, Endurance International Group Holdings (2020-02-06). "Endurance International Group Reports 2019 Fourth Quarter and Full Year Results". http://www.globenewswire.com/news-release/2020/02/06/1980969/0/en/Endurance-International-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html. 
  21. ↑ Transcribers, Motley Fool (2019-11-01). "Endurance International Group Holdings Inc (EIGI) Q3 2019 Earnings Call Transcript" (in en). https://www.fool.com/earnings/call-transcripts/2019/11/01/endurance-international-group-holdings-inc-eigi-q3.aspx. 
  22. ↑ "Endurance International wins Google Cloud Expansion Partner of the Year 2019 for Asia Pacific award". Thehindubusinessline. April 7, 2020. https://www.thehindubusinessline.com/info-tech/endurance-international-receives-google-cloud-expansion-partner-of-the-year-2019-for-asia-pacific-award/article31278440.ece. 
  23. ↑ "ENDURANCE INTERNATIONAL GROUP ANNOUNCES AGREEMENT TO BE ACQUIRED BY CLEARLAKE CAPITAL GROUP L.P. FOR $9.50 PER SHARE" (in en-US). 2020-11-02. https://clearlake.com/endurance-international-group-announces-agreement-to-be-acquired-by-clearlake-capital-group-l-p-for-9-50-per-share/. 
  24. ↑ "Web.com merges with competitor, becoming Newfold Digital". Jacksonville Daily Record. February 11, 2021. https://www.jaxdailyrecord.com/article/web-com-merges-with-competitor-becoming-newfold-digital. 
  25. ↑ "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.
  26. ↑ "Leadership". https://newfold.com/leadership. 
  27. ↑ ""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.
  28. ↑ "Endurance International Group (EIG) – The World’s Largest Web Hosting Company You’ve Probably Never Heard Of". 24 November 2014. https://www.hostingkingdom.com/blog/endurance-international-group/. 
  29. ↑ "Thoughts on Endurance International Group (EIG) Hosting". November 15, 2013. https://www.linux-depot.com/non-endurance-international-group-eig-hosting/. 
  30. ↑ "Endurance International Group, Inc". Hosting-Reviews-Exposed.com. http://hosting-reviews-exposed.com/endurance-international-group/endurance-international-group-inc.html. 
  31. ↑ 31.00 31.01 31.02 31.03 31.04 31.05 31.06 31.07 31.08 31.09 31.10 31.11 31.12 31.13 31.14 31.15 31.16 31.17 31.18 31.19 31.20 31.21 31.22 31.23 31.24 31.25 31.26 31.27 31.28 31.29 31.30 31.31 31.32 31.33 31.34 31.35 31.36 31.37 31.38 31.39 Edwards, Donn. "About the Endurance International Group (EIG)". https://donnedwards.openaccess.co.za/2010/04/about-endurance-international-group.html. 
  32. ↑ 32.00 32.01 32.02 32.03 32.04 32.05 32.06 32.07 32.08 32.09 32.10 32.11 32.12 32.13 32.14 32.15 32.16 32.17 32.18 32.19 32.20 32.21 32.22 32.23 32.24 32.25 32.26 32.27 32.28 32.29 32.30 32.31 32.32 32.33 32.34 32.35 32.36 Better Business Bureau Web site. Retrieved August 18, 2012
  33. ↑ "Accessed 4 November 2014". http://ir.endurance.com/releasedetail.cfm?ReleaseID=880160. 
  34. ↑ 34.0 34.1 Ohashi, Kevin. "The Rise and Fall of A Small Orange". https://reviewsignal.com/blog/2016/01/19/the-rise-and-fall-of-a-small-orange/. 
  35. ↑ "AppMachine acquisition by Endurance International Group". http://endurance.com/press/press-releases/endurance-announces-acquisition-of-appmachine. 
  36. ↑ 36.0 36.1 36.2 36.3 "Endurance International Group Expands in India and Beyond" (PDF). The Endurance International Group, Inc.. January 28, 2014. http://ir.endurance.com/static-files/3511f01c-475c-4a70-a991-528064d31743. "Endurance International Group is pleased to announce that it has completed the acquisition of the Web presence business of Directi ... The acquisition of Directi includes B2B brands ResellerClub, LogicBoxes and webhosting.info as well as successful Web presence brand BigRock." 
  37. ↑ "WHOIS Domain Name Lookup - Search Availability, and Purchase Domain Names | BulkRegister". https://www.bulkregister.com/whois/default.aspx. 
  38. ↑ 38.0 38.1 38.2 38.3 38.4 "Web Host Endurance International Bulks Up With Buys". Investor's Business Daily. 8 April 2015. http://www.nasdaq.com/article/web-host-endurance-international-bulks-up-with-buys-cm463276. 
  39. ↑ 39.0 39.1 NECN.com, Koch Industries sues over bogus website, release, Jan. 5, 2011
  40. ↑ 40.0 40.1 admin. "Endurance International Group (EIG) is Buying HostGator". Cast-Iron Hosting Review. http://www.castironhosting.com/is-endurance-international-group-eig-buying-hostgator/. 
  41. ↑ "Open Source Drives Small Business". http://www.eweek.com/c/a/Linux-and-Open-Source/Open-Source-Drives-Small-Business-538896. 
  42. ↑ "Bluehost coupons". https://s3.amazonaws.com/webhosting-coupon-codes/bluehost.html. 
  43. ↑ 43.0 43.1 43.2 43.3 43.4 43.5 43.6 43.7 43.8 Web.com
  44. ↑ "EIGI acquires Ecomdash for $9.6 Million". https://seekingalpha.com/news/3498143-endurance-international-acquire-ecomdash-9_6m. 
  45. ↑ "Emailbrain - Trademark #77317840, Owner: ENDURANCE INTERNATIONAL GROUP - WEST, INC.". https://inventively.com/search/trademarks/77317840. 
  46. ↑ 46.0 46.1 "MarketWatch: Endurance International Group to Purchase Intuit Websites Business". http://www.marketwatch.com/story/endurance-international-group-to-purchase-intuit-websites-business-2012-08-15. 
  47. ↑ "HostClear is closed for business". http://hostclear.com. 
  48. ↑ "Server.fm: The world's largest web host". http://server.fm/the-worlds-largest-web-host/. 
  49. ↑ 49.0 49.1 "Intuit Websites Acquired by Endurance International". THN News. 16 August 2012. http://www.thehostingnews.com/intuit-websites-to-become-part-of-endurance-international-25491.html. 
  50. ↑ "JustHost Company Bio - Web Hosting Review Zone". http://www.webhostingreviewzone.net/hosting-companies2/justhost-company-bio/. 
  51. ↑ Nord, Brady. "We have been acquired. The future has a lot of MOJO!". http://www.mojo-themes.com/2013/04/we-have-been-acquired/. 
  52. ↑ "Netfirms.com acquired by Endurance International Group". March 10, 2011. https://hosting-reviews-exposed.com/endurance-international-group/netfirms-com.html. 
  53. ↑ "NEXX Trademark - Registration Number 2966779 - Serial Number 78373756 :: Justia Trademarks". http://trademarks.justia.com/783/73/nexx-78373756.html. 
  54. ↑ 54.0 54.1 54.2 54.3 "Endurance International Group Reports 2015 Second Quarter Results". SEC. https://www.sec.gov/Archives/edgar/data/1237746/000119312515275678/d67914dex991.htm. 
  55. ↑ SEO Hosting. "SEO Hosting - Leader in Multiple IP SEO Hosting". http://seohosting.com. 
  56. ↑ Jerry, Low. "Full List of EIG Hosting Brands". https://www.webhostingsecretrevealed.net/blog/site-updates-news/the-who-what-when-of-endurance-international-group-eig/. 
  57. ↑ See note about merge with JustHost

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