Media Temple Parent GoDaddy Approaches IPO

The parent company of Culver City-based hosting service Media Temple--GoDaddy--is getting closer to an IPO, based on reports Wednesday that the company has hired on several investment bankers for its public offering. According to Bloomberg, GoDaddy has selected Morgan Stanley and JPMorgan as bankers for its IPO, which is expected sometime later this year. It's unclear how the move would affect MediaTemple, which still has extensive operations in Los Angeles--and apparently has been in hiring mode for all sorts of positions here. GoDaddy acquired Media Temple in October of last year.