Jomax technology: Chances are the website designing company could have made it as an average company with clients from various niches, but the founder decided that any company could make it big only when they are making money when they are sleeping. Thus was born GoDaddy and its very colorful and brazen CEO Bob Parson.
From Rags to Riches.
Born and brought up in Baltimore, Maryland Robert Ralph Bob Parson was a hustler since his childhood as both his parents were hardcore gamblers. Young Bob started showing his entrepreneurial skills when he made money by reselling newspapers, a business very few could make a profit on. Despite his sharp mind, Parson struggled when it came to education, failed 5th grade and almost flunked 12th grade before immediately enlisting himself in the United States Marine Corps. Wherein he was assigned to the 26th Marine Regiment. Later in 1969 during a tour of duty in Vietnam in the Quảng Nam Province, he served as a rifleman in the Delta Company of the 1st Battalion, 26th Marines. His bravery and valor earned him the Combat Action Ribbon, the Vietnam Gallantry Cross, and the Purple Heart.
Is the War Over?
Parson got a dose of the civilian world when he worked in a Baltimore steel mill which was not a pleasant experience. This also motivated him to continue his education and thus he attended the University of Baltimore. He later paved his way into the world of finance when he studied and obtained an accounting degree graduating Magna Cum Laude. Parson had a very obvious reason to select accounting at his University: to study the art of finance which would allow him to stay close to all the entrepreneurs and observe them closely. While pursuing his graduation Parson studied computer programming which later developed into a hobby.
For a brief period of time, Parson worked with multiple entrepreneurs and studied them closely after earning his CPA license. His years of labour earned him fruits when he founded Parsons Technology in Cedar Rapids, Iowa in 1984. Initially, Parson used his computer programming skills to create a home accounting program for himself, MoneyCount but later decided to sell it to make a profit. Parsons technology had 1,000 employees when he sold it to Intuit, Inc. for $64 million on On September 27, 1994.
The Daddy is here.
Parsons had a small retirement for 3 years before he launched Jomax Technologies in 1997, which would become GoDaddy Group Inc. When the employers at Jomax Technologies were brainstorming to rename their company, the initial choice was ‘Big daddy’ but the domain was unavailable for sale, whereas the domain ‘GoDaddy’ was available, thus came into existence the world’ largest domain registrar. The company started gaining popularity and was counted in the big league along with Dotster and eNom in 2005. The year was also a lucky note for GoDaddy as it was the year when the GoDaddy launched its first advertisement on Super Bowl which is famous for Candice Michelle and spoofing the infamous Janet Jackson halftime ‘wardrobe malfunction’.With time the company started growing, while Parson was also famous for his comments and philanthropy. Parson stepped down as the CEO of GoDaddy when he sold approximately 70 percent off to a private equity consortium led by KKR & Co. L.P. and Silver Lake. He currently serves on GoDaddy’s board and owns 28 percent of the company and is the largest shareholder.
From GoDaddy to Yam
After dropping down from GoDaddy, Parson founded YAM, a private lending and investment arm, specializing in commercial real estate lending and acquisition of closely held middle-market companies. Parson has explored a wide range of businesses under the banner of YAM which includes Martz Agency, a full-service advertising agency, Sneaky Big Studios in Scottsdale provides production, post-production, and recording studio services including editorial, visual effects, colour finishing, and audio. The YAMWOOD Foundry, a business that creates custom, unique furniture, signs, and lighting fixtures for residential and commercial projects. Besides profitable business, he also explored his love for biking and golf by founding Scottsdale-based Spooky Fast Customs, which creates customized motorcycle designs and fabrications. In January 2015, Parsons launched Parsons Xtreme Golf (PXG), a high-end golf club manufacturing company.
Parson is counted in the elite clubs of the most respected philanthropist when he signed Giving Pledge, vowing to donate at least half of his fortune, which is estimated at $2.6 billion. Along with his wife, Renee Parsons, the Bob and Renee Parsons Foundation was founded in 2012. The foundation has donated over $10 million on a yearly basis. Bob Parson is one of the most respected businessmen from America. His story from rags to riches might be one of the most popular because he is brutally honest, adamant and did not give up even at the most difficult times!