Is Namecheap owned by GoDaddy?

I'm curious to know if there's any connection between Namecheap and GoDaddy. Are they owned by the same company or are they separate entities? I've heard that both are popular domain registrars, but I'm not sure if they're affiliated in any way. Could you provide some clarity on this matter? It would be great to understand the ownership structure of these two companies and how they relate to each other in the domain registration industry.