Good morning, everyone. My name is Alexei Gogolev, head of JP Morgan Vertical Software team, and today I'm delighted to welcome back our favorite people from GoDaddy, CEO Aman Bhutani, and CFO Mark McCaffrey. Gentlemen, welcome. And maybe if we could begin our discussion with sort of a broader top-of-the-funnel view. What has been so far the dynamic, considering somewhat softer formation data that we've seen in the market, what has been the view so far for GoDaddy customers and your vision for 2024?
Yeah, thanks for having us. You know, one of the exciting things about GoDaddy is that people come to GoDaddy when they think of their ideas, right? That's when they want to lock in that domain name, 'cause they know they want that piece of real estate on the internet, and they don't wanna give it up to somebody else. So, you know, while there are lots of macro metrics that, you know, we try to compare our business to, this idea that people come to us first has continued to be consistent for GoDaddy. And what we see in 2024 is a customer that has always been resilient, has always been bullish about their own business, but now feels a bit better about the macro as well.
So we think of that as stability coming into our business, which is traffic coming into our site, customers having good, strong intent, customers exploring a little higher value domain. That's a little bit of a cute metric, which is that, you know, when customers come in, are they trying to buy just the cheapest thing they can find, or are they willing to spend a little bit more? We see that little bit more spender, which shows that, you know, they feel more confident, they have greater intent, and likely they're gonna do more with the domain than maybe, you know, a few quarters ago.
Yeah, and the statistic we like to go to is, you know, customers are going to that second product 25% faster than they were four years ago, and that's that customer that's coming in with intent, and that's what we're seeing in that stable environment of demand at the front of the funnel right now.
That's actually what I wanted to ask, Mark. Thank you. Thank you for highlighting that.
I, right
... because, like, this change in, I guess, you know, how entrepreneurs are approaching the GoDaddy story, the business formation, you've been adding so many new products. So, like, can you maybe elaborate how this has evolved over the years? Like, how you're seeing the customer adopt more and more products on your platform?
Yeah, you know, of course, traditionally, GoDaddy thought of more as a domains business and then adding hosting. But we're pretty excited about the Applications and Commerce segment. You know, we've got the productivity solution, which is just doing very, very well with us, and the website solutions, where we have one of the best website builders on the market, right? What customers really need to know about GoDaddy is that GoDaddy has all of this offering, and of course, you know, we have a beginning point in commerce and payments as well. And that's what we're trying to do with our product called Airo.
Airo is an experience that allows our customers to discover the breadth of products GoDaddy offers, whether that discovery happens through a TV ad, or it happens through their engagement on our website, where they're just there to do something else, and in a very clean way, Airo appears and tries to help them with it and gets them sort of used to the idea that Airo exposes them to a lot more. Once the customer has this idea of having discovered the breadth of GoDaddy products, our goal is to engage them with those products. And what Airo does is it pre-configures pretty much everything it puts forward.
If, if Airo is gonna put forward a marketing calendar for social media for 30 days, Airo is not only going to line that up to the customer's exact needs on certain days, it's gonna write the message, and it's gonna prompt and say, "Do you want me to post this?" If Airo is going to build a logo, it's gonna build the whole thing and then give them 10 options and allow them to edit it and change it, right? Because the, the idea is that you just make it seamless for the customer to engage with it, to try it out. And then the goal is once we have discovery and engagement, that we're gonna deploy monetization methods against it, so that we can monetize in various different ways, this, this sort of customer that has an expanded experience with us, that is getting more value with GoDaddy.
You know, and what we see, you know, we saw in Q1 that we've talked about, is our bundling efforts, which is pre-Airo. Airo, we're still in the experimental stage around monetization, so when we talk about our guide and where we're going, we have not included any data points around Airo. But what gives us a lot of confidence is we're seeing the customers bundle, and we're seeing their attraction to better pricing when they're getting more value out of it. And you take Airo on top of that as an accelerator. Again, Airo is an experience, not a product in and of itself, and Airo makes that more efficient for them to look at what they can get value out of quicker, and that all started with the consolidation of our technology stack last year.
I wanted to ask about the recent dynamics and changes in the U.S. social media. Do you think website builders could benefit from some of those bans on certain social media platforms in the U.S. ? I mean, would you expect consumers and those small SMB businesses to maybe build more of their initial digital exposure on websites?
You know, our customers tend to use whichever platform that they can get comfortable with, and that includes social media platform and, you know, transactional marketing platforms. But at the end of the day, you know, it doesn't matter where they start. Most customers want to have some sort of web presence that is unique to them, right? They ultimately want to bring their customers into their store, whether it's a physical store or their virtual store, right, and provide that wholesome experience. And for that reason, we believe that customers continue to invest in a presence product that kind of builds their brand and their experience just the way they want it, right?
In terms of whether they would use more or less, you know, I think we see this path consistently for the last, well, well over a decade at least, of customers wanting their own experience, so we think it's gonna continue to be there.
And, I mean, your commerce exposure has been growing and phenomenal results there. I was wondering if you have any view on how the customer acquisition dynamic may evolve now that one of the bigger competitors in the space, Shopify, talked about their intentions to invest more into customer acquisition and marketing.
Yeah, you know, GoDaddy has a differentiated go-to-market here than anybody else in the market. GoDaddy is targeting its payments and commerce offering to its existing base of customers, and we've maintained that consistently. And we've shared that going into the base and penetration in the base has been the largest driver of our payments and commerce growth, right? That, that annualized GPV hitting the $2 billion milestone last quarter, you know, the existing base has been the largest contributor to that fantastic result. So when we think about that, you know, we think we have a great relationship with these customers, and it's constantly proven because when they call care, when they have a problem, we solve that problem very, very well.
We believe that we are, we are able to offer them a one-stop shop, where they're not just sort of delighted to see that GoDaddy has these range of products, they're delighted that it comes together in a manner that's really simple for them. And then in payments, we have the best value for money, really competitive pricing, and it's those three things when they go together, you know, it really works to convert our base and get that penetration. So from our view, you know, we have a very focused strategy for payments and commerce. It allows us to have competitive differentiation with a low CAC, with, you know, great pricing, fantastic experience, and relationship with the customer, and we're gonna continue to sort of invest behind that.
Yeah. To those who are hearing the GoDaddy story maybe for the first time, just a very important point here. Our customer base, A lot of people talk about small businesses. Our customer base is focused on microbusinesses, the mom-and-pop shops, the entrepreneurs. That is something we do fantastic, we're known for. We can continue to be able to penetrate. We have 21 million customers, and our ability to sell into that base, as well as attract new entrepreneurs, has been our sweet spot and will continue to be. So when others talk about markets and small businesses, just differentiate between what we do best, which is the mom-and-pop shop, the underdog, those who wanna get to market.
Mark, to double-click on that, you've reported phenomenal bookings in the first quarter for A&C.
Thank you for that adjective, but yes.
Yeah.
Welcome.
22%. Can you maybe talk about the components that drove such dynamic? So you've mentioned things like hardware, payments, and software.
Yeah, and again, we always talk about the two-plus products for us. That is a very key point 'cause it gets us to the LTV, 83x, it gets our retention rates up. You know, that materializes within our A&C segment. That is normally the second-plus, third-plus products. And what we're seeing today is the efforts of our bundling. Now, while we saw double-digit growth across all the components of A&C, great momentum, you know, great strength there.
Productivity led the charge, and we saw the ability to bundle additional functionality with our productivity products was phenomenal, and we saw it take place in two aspects: not only for new customers coming in, but also in the renewal cycle, that we were able to offer a bundle, and we saw that as a very attractive component to our customers who were renewing. And again, this was one renewal cycle in Q1. We'll have other renewal cycles as they come up, but it gives us a lot of confidence that customers, if they see value, will bundle multiple products. When we get to that second-plus product, our retention rates go up from our already fantastic 85% retention rates.
When we get to a third product, we pretty much have a customer for life, and that's the dynamic that drives that 83x over time. But you're seeing the materialization of all the efforts we put into place last year to allow for the bundling efforts that now can go out to the customers and provide that value.
I think maybe it's also good to say that, one of the things about our pricing and bundling initiative is that, you know, it really does focus on the value the customer has. So this is a sophisticated way of doing value-based pricing and bundling. And we really look at, you know, who the customer is, what products they have, what are they using, you know, and we feed a lot of attributes into an algorithm that allows us to, you know, just optimize both for the customer and for GoDaddy.
Aman, you talked about Airo, great product. Could you maybe talk about the attach of that product? You know, what it has been doing so far. Obviously, very early days, but the progress would be great.
Yeah, it's very early days, and, you know, right now, what we're really focused on is, you know, the timelines and the attach rates and engagement rates for Airo, and this is before we get to monetization. You know, where we are today is that our, in the first step, which is discovery, our existing base of customers are starting to see Airo. And the way they see it is not just through us emailing them, but actually within the experience they have. So if they come in to GoDaddy to take an action, to do something else for another product, Airo will very cleanly sort of appear to help them.
If they adopt it, it will then expose them to a whole set of products that we call cards, that suddenly help the customer discover that, "Oh, actually, I pulled on this little thing, and I got all these things with it." Right? We go into our base of customers in cohorts. It's not you know, in one shot. We've taken the same approach with commerce and productivity in the past, so we know that as we go, we wanna iterate that experience and make it better and better. So with discovery on its way, we're starting to work engagement. It's not exactly what we call attach. What it's really focused on is getting the customers to use the products that we have, and we're seeing good engagement for our customers with the Airo products, and we're able to optimize it very quickly.
For example, Airo builds a great website for our customers, and initially, we would build them one website, and somebody, a product manager, said, "You know, maybe we should build them more and just give them choices," and we went up to building 13 of them, and then we found that that's too many, so we're back down to 8. But the idea is just give customers more and more choice and see what they engage with, and that's what we're excited about, you know, being able to give them that choice. And then we know with that engagement, we'll have monetization options, and we are testing certain monetization options, but, you know, it's still ramping.
How does the Airo product differentiate from some of your competitors?
I think Airo brings a level of simplicity that's really different, and that the way we're making it intuitive, we call it almost magical, right? When a customer buys a domain and they just want an email address, for our customer, it feels magical that Airo creates the email address for them, and not just that there's no configuration, that it actually tells them that you should have this email. Or when Airo creates a logo, you see that surprise in customers when we do live sessions with them, and they're like: "How did it know that this is the business I'm in, and that I would like this logo? This is perfect." And the way we know, or the way AI knows, is that GoDaddy has the largest set of data around domains.
So we actually have an AI model that looks at the domain name that you bought, tries to determine what you're going to do with it, what business you're gonna be in, and then generates a logo based on that, right? And it's the power of that data and being able to do it instantly, right? That creates that magical feeling for our customers, and that, you know, remains differentiated in the market. And it's not something that, you know, is new to GoDaddy. It's part of our core ethos. We call this a guided experience. If a customer wants to build a logo, it's not just about putting in a prompt and getting an image back. It's about guiding that customer to build the best logo for them 'cause so that it feels personal for them, so that they...
It's easy, and they can just take the first one that the tool generates, or they can change it and really make it their own, and that's powerful.
Yeah, and, just, you know, keep in mind, 27 years of history, 21 million customers, 14 million interactions with our customer base annually, 1.2 billion signals we get from them daily. That's a lot of data to create an experience that goes back to the customer and has an idea of what their needs are, and that just keeps building on itself. You know, the logo AI was just remarkable. We started it, and then it got better and better the more people clicked on it, and we could see it was producing premium logos. And now you get into, okay, now you can start to level out. You know, is there an opportunity on the premium logos going forward? That's the beauty of the experience around Airo.
Mark, quite, quite a lot of investment already made into this incredible technology, but, the Applications and Commerce division is still very profitable, more profitable than your, core, operation. What do you think the long-term EBITDA margin potential is for that segment?
Well, we've talked about it on an overall company basis, that the three things that contribute to our normalized EBITDA growth are the growth in A&C because it is a higher, you know, margin point. I think we're at 42% right now. And then we have opportunities around extending our global footprint to our employee base, as well as other operational efficiencies. So while we haven't guided specifically to, you know, what the segment long-term margins are, it's pretty clear that the acceleration of A&C and the growth in A&C will continue to contribute to our growth and our overall normalized EBITDA margins as a company. And, you know, let's not forget, for us, on a one-to-one conversion ratio, that's a... That's free cash flow for us, right?
And that continues to generate our North Star and continues to allow us to push towards that overall. So A&C is a primary growth driver of that entire equation.
Right. And, sort of switching to your core business, Aman, maybe talk a little bit about the demand in domains, both primary and secondary markets.
Yeah. You know, on the primary market, domains has been stable, and our share has been stable, and we continue to see opportunities to put a better and better mix of domain names in front of customers. We have the best search in domains, we believe, by far. We have the most amount of data. We sell 500 TLDs, those, you know, what the domain names end with, and we have the richest mix in terms of what we offer our customers. So when we think about that product mix, when we think about that experience, we continue to see fantastic opportunity, and customers come and search on GoDaddy and find great experiences.
We've now taken that to the next step over the last few months, where now we're doing domain search that's based not just on ML and AI, but it uses a mix of ML, AI, and generative AI. And that's the path that we see over the next year, is evolution of that path, where what you're searching for is not token-based search or a prompt-based search. It can be either/or, and the data from GoDaddy mixed with, let's say, LLM data, produces a domain name that a customer couldn't even have imagined. And we're starting to see that already, where when customers type in descriptions of what they want to do, the names that come back are just completely different.
That's an exciting part of the domains business for us, which is reinventing search of domains sort of all over again, having done it 25, 27 years ago. So that's super exciting. The aftermarket business, I'm sure Mark will wanna talk about it. You know, doing great, and, you know, it's hard to tag the aftermarket to the macro, but, you know, when folks feel better, when customers feel better, we do see them coming into the primary market and buying a secondary market domain. And the way that works is that we have real-time models that, based on the search, pull domains from the secondary market into the SERP, which is the search results, and offer it at a Buy It Now price.
We've seen a little bit of an uptick in what customers are choosing, which tells me that they're more bullish, not just about their business, but the general macro overall on the aftermarket.
Yeah, and, you know, we, we've talked about the aftermarket. We're the largest player in the aftermarket. You know, we see a stable growing of the business at the, I would say, steady volumes at the lower level, and they continue to grow, and that's what we use to guide towards our aftermarket and the growth going out there. But, you know, from time to time, we see larger transactions come in, and we can't predict them. We generally don't have a lot of forewarning around them, but when they hit, they can add a boost to our any given quarter. And, you know, what was nice in Q1 is we saw the return of those large transactions that we hadn't seen in 2023, within the quarter, so that helped, on the aftermarket growth at about 12%.
But more importantly, we continue to see that stabilized growth at the lower level, which means people are really looking for specific domain, domain names and willing to pay in a secondary market to get them, which I do think goes to the confidence of the macroeconomic environment. You'll pay a little bit more if you're more confident that you're gonna get that back 'cause you have an intent to use that domain name. And, and all those are just... You know, listen, we're the biggest domain player. Having the largest secondary market is very important to us, and even our competitors come in and use that secondary market. So, so again, it's a, it's a large area, a little bit unpredictable, but we're happy to see some of the return of the transactions that were missing in 2023.
Mark, how sustainable do you think that leading market share in the domains business is long term? Like, this 20% is pretty significant market share.
Yeah, I always come back to, "Hey, we've been there, and we're still there, and we'll continue to be there.
Are you seeing any kind of change in incremental competition?
I'll always come back to the same, you know, we've been the largest, we remain the largest, and we'll continue to be the largest.
Perfect.
I think we have the best brand position, the best awareness in domains, the most global reach, the best offering, the most sort of breadth in terms of, you know, how the offering can meet specific needs for customers when it comes to domain names. I think it's we come from a good place when we say that, you know, we feel very good about our domains offering globally, not just within our main markets.
Could I also ask about hosting? Like, if you're already at that point where you feel like you've cleaned up the hosting business really well, and it's shaping up nicely, but anything else to expect kind of midterm? Is the process over, or you're still kind of looking at some assets?
Yeah, the hosting business continues, especially on the GoDaddy platform, continues to be a stable business for us. But I know, Mark, you've given some numbers around, you know, what have we addressed and what's left, so I'll let you take that.
Yeah. I like to think our efforts to evaluate our business and our strategy are ongoing. We'll, you know, respond to what is appropriate and do what we need to do. We've taken actions last year around disposing of two hosting entities. We took a third one in Q1. That created a headwind of about 100 basis points for us. Those will abate throughout the year. Those are the numbers that we put out there. But when all is said and done, when you're talking outside of the core GoDaddy stack, we'll have about $50 million of non-integrated business that we believe is still strategic to GoDaddy. We'll evaluate that, though, and at the time, we think it'll be... Right now, we believe it'll be accretive to our overall model.
But if there is a point in time where we do not believe it'll be accretive to the overall model, we've shown that we will take the necessary actions to make sure we're running efficiently. So we feel good about where we are today, but I never want people to think that, you know, we don't continue to look at what's out there, evaluate it, look at the macro conditions, and look at our overall strength in our business and our ability to, you know, move towards that North Star we've talked about.
Absolutely. And, in terms of customer care, which seems to be an important part of your investment thesis, can you elaborate what has been done lately in that segment and how it's driving bookings to your business?
Yeah, gosh, so excited about customer care. Now, customer care is core to our ethos. You know, our customers need to talk to a human being to feel comfortable, to feel like-
Mm-hmm
... they're getting the true GoDaddy experience, and it's great for them, and it's actually great for GoDaddy. We're one of those unique companies that if you call care, you're basically going to be with us forever because we take such good care of you, you know, that you're gonna love it. Now, the biggest innovation in care is a new platform that we call Gabby. It sits on our software platform, and what Gabby is about is really turning our guides into super guides, where Gabby is an AI capability that helps our guides serve our customers better. It can do. You know, it's still in early stages. We've rolled it out across our care footprint, but it gets smarter and better as guides use it.
And the types of things it can do is if a customer calls, and let's say they're having trouble using their email on their phone, you know, the guide may know how to fix that and may offer the customer the advice to try a couple of things. But if it doesn't work, Gabby can then be very, very smart and say, "Ask the customer this X question." And the reason Gabby's asking that is that customers will say, "I have this phone, I have this tool, I have this version," but actually, they can be wrong about it, right?
They may not exactly know what they have, but Gabby is going to try to be very smart and ask them a completely different question and say, "If you go on this screen, do you see X?" And the customer will go to that screen and say, "Yes, I see X." And then Gabby will say, "Well, actually, you have an older version." So then Gabby will tell the guide, "Send them these instructions and try this, and it'll make it work." So that's the type of, you know, nuanced capability that Gabby can do because we have access to our call transcripts going back, and we have 14 million interactions in care every year. And we use the power of that data to make the guide able to sort of jump steps and get to the customer's outcome much, much faster....
So that's a pretty exciting part of, you know, what we're thinking about in terms of the evolution of care, where technology and AI can, you know, become a big part of our core thesis around care, which is always about providing a better experience at a lower cost. Never one or the other, just better experience at lower cost.
Great, and, could we open the floor for questions, if anyone has a question?
So what changed that allowed you to bundle or to enhance the bundle pitch or offering?
The biggest piece of the current pricing and bundling initiative is about bringing the different product stacks together into an integrated stack, which then allows us to offer an integrated experience, right? When you have that integrated experience, you can take many more shots and go. You can try many different things, and it becomes easier to sort of hone in on what exactly works for the customer. So that's what you're seeing more of, where we're just now able to do it much easier, much faster, you know, often across many, many cohorts in parallel, be able to get an answer and then roll it out.
So, we're only a couple of quarters into that?
Yeah, we're about a quarter, couple of quarters into that.
So when you said on the first quarter call that, "We're looking at three years of goodness," that mean... That's the renewal cycle.
Yeah. Our typical renewal cycle is just over 12 months, but this, the way we think about the pricing and bundling initiative is much broader than any one year of what we're thinking about. Because we believe that, you know, given our breadth of products and our large customer base, that we have many opportunities to apply this type of thinking across the base.
Yeah.
You look at the repeatability of, you know, every period, we have new renewal cycles coming in that creates an initial opportunity. Then you have adding more bundles to that as we get more experience. You know, the momentum around here allows us to drive that behavior, and, you know, we feel good about where we're starting and the momentum that we saw in Q1.
I was wondering, Mark, if you could maybe double-click on what Aman told us about monetization of Airo. So you mentioned previously about paywalls.
Yes.
Maybe elaborate a bit more on that.
Yeah, so, you know, and we haven't built, and I'll start with, any of the data points around Airo into our current model, right? So when we talked about our 3-year, you know, framework, that, that is based on what we know today and what we can see in front of us. Airo has the ability to potentially accelerate what, what is, we believe, a great model. You know, we get to 2+, we get to 3+. Now, monetization has to occur, and that's where we're experimenting, and you see demand and discovery and engagement, very strong. People are using Airo. They, they are looking at it. I can't go into a meeting where somebody hasn't, that morning, gotten on Airo and tried it out and gotten a domain name and, you know, potentially launched a website.
We're seeing the behaviors that absolutely suggest that Airo is gonna be a game changer. But you have to experiment with the paywalls, and you gotta see what makes sense from where people are willing to pay, and that could be based on products, it can be based on terms, it can be based on renewals, and that's what we're discovering. We believe they are paying for the additional bundles and value. We've seen that even pre-Airo. But now it's getting to that absolute data point of, we think the renewal is gonna be the right cycle to do it, or 30 days is the right cycle to do it, or upon editing is the right place to do it. All those seem to be working. It's finding that optimal point of monetization. And again, this isn't, Airo itself isn't a product, per se.
It's an experience, but it works with our model around bundling different products to get more value to our customers. When they get more value, our ability to get more value and participate in that value gets greater. And our ability to measure that, we think is gonna be an extraordinary opportunity. Again, not built into anything today, but when we see the possibilities, and we see the behavior around it right now, it can't... It just excites us.
Right. Right, so the North Star long-term financial targets, they don't include-
They do not include it, and listen, we feel really good about our North Star and our ability to generate the amount of free cash flow we've talked about on our Investor Day, and our ability to continue this model on for a three-year period of time. Airo is not in that. And as time goes on, we'll share-
Yeah.
You know, no doubt about it, but right now, Airo is at that phase where we're excited on the engagement, but we'll build it in once we have the data points that suggest this is what it's gonna do.
Perfect.
You mentioned that GoDaddy's market share has been stable, and you expect it to continue to be stable. Maybe you could talk about, you know, amid some of the weakening in the consumer in the prior years, where share has changed in the industry, who's kind of, you know, where you're seeing kind of give back, you know, WordPress, Wix, Shopify, and some of the other kind of players in the industry.
Yeah, in the, in the present space, you know, we do see great growth in Websites + Marketing. You know, Websites + Marketing produces a website that Google Core Web Vitals ranks as the best website, right? So we see great growth there. We see stable share, you know, depends on what timeframe you pick, but we see sort of stable share for WordPress. And we continue to see that a very significant percentage of designers and developers continue to use it as their primary tool. That's not to say that there aren't other products that they're starting to get used to, right? I think there are some opportunities for GoDaddy continue to be some opportunities in the WordPress space. There continue to be opportunities as that space evolves for GoDaddy as well.
I think Mark mentioned it or already, in Applications and Commerce, we have a business which is our managed WordPress business, and like he said, you know, all the components of Applications and Commerce group bookings double digits. So we're definitely doing well across the board on that.
In terms of kind of your capital allocation strategies, you've always been very clear on your preferences, but anything maybe changed incrementally? Are you more optimistic about potential M&A opportunities?
You know, Mark's gonna jump in in a second and then say, yeah, our capital allocation strategy remains unchanged, and it's true. You know, when we think within that capital allocation strategy, and I'll let Mark talk about buybacks and others, if you want. But on the M&A side, our framework is very simple. Our framework is about making sure that any M&A that we do is core to our strategy, that it is, you know, fits our financial model, and it must be something that we can integrate into our core stack. So that, that's the path that we're looking at, and we, you know, we have a position in the market where we get to see a number of things that are happening, but we're always looking through our lens of what makes sense for GoDaddy.
Absolutely. And, finally, in terms of, kind of how things have been evolving in the company, since you came on board, a lot of success at GoDaddy, sort of what is your next strategic step? Obviously, product focus was such a big part of your strategic, thinking, it seems, in the last three or four years, but what's the next step in your, the evolution of this business?
Yeah, you know, I think we're now positioned to completely reinvent how customers start their businesses or grow their businesses at GoDaddy. We have a breadth of product that we represent with the Entrepreneur's Wheel. We have very efficient marketing behind it. We have a large customer base that is open to GoDaddy offering them pretty much any product, right? And we've proven with, first with productivity, and now with commerce, that we can go into that very large base and penetrate that base with new products, even products that others thought were too complicated for customers to shift over to us. Well, our customers love us, and they want to shift over to us, and we're able to bring to market great products at really competitive prices.
To me, that's the start of the next chapter, is that, you know, you're gonna hear about GoDaddy just offering this breadth of products, and customers are gonna be surprised and delighted at how easy it is and what, how little they have to pay for it, and it's gonna create tremendous value for GoDaddy and its shareholders.
Absolutely. Amazing. Thank you very much, Aman. Thank you, Mark.
Great to be here, and thank you.
Great to see you at our conference. Thank you.