Technology Crossover Ventures Reports 21.2% Passive Stake In GoDaddy

Shares of Godaddy Inc GDDY were trading lower by more than 2 percent on Thursday despite the fact that a major shareholder reported a large stake in the company. Robert W. Trudeau's Technology Crossover Management reported a 21.2 percent passive stake in Godaddy. Technology Crossover Management is a provider of growth capital to technology companies. The fund entered into a partnership with Godaddy in 2011 along with KKR and Silver Lake. Shares of Godaddy have lost nearly 25 percent of its value since the start of 2016.