• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, July 14, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home India News

Freshworks IPO turned 500 Indian employees crorepatis with 70 of them aged under 30

by Balraj
September 23, 2021 - Updated On September 24, 2021
in India News, Startups
Reading Time: 2 mins read
0
Freshworks Logo Mockup

Illustration: TechStory × Freepik (CosmoStudio)

TwitterWhatsappLinkedin

Freshworks, an Indian horizontal SaaS platform that debuted on NASDAQ yesterday, announced that over 500 of its shareholder personnel in India have become crorepatis as a result of the IPO. Freshworks employs over 4,300 individuals worldwide.

You might also like

Tesla India Begins in Mumbai July 15, Expanded Showroom Plans Ahead

Creating Real-Time Visibility into Startup Team Workload and Progress

Trackon: Powering India’s Logistics with Smart Systems

Freshworks Logo Mockup
Illustration: TechStory × Freepik (CosmoStudio)

Girish Mathrubootham, the company’s CEO and co-founder remarked that high-quality talent, culture, and the ambition to establish a global B2B tech platform from India have been the three pillars of the company’s evolution from a startup to a publicly-traded $10 billion SaaS giant.

He further added, “Today we have 76 percent of our employees holding shares. More than 500 of our employees in India are crorepatis and 70 of them are under the age of 30 people who have graduated college a few years ago and they fully deserve it for believing in us over the past ten years.”

The company was valued at $12.2 billion after opening at a price that was 21 percent more than the initial offering price of $36 per share. Freshworks’ shares started at $43.5. On September 22, the stock touched an intraday high of $48.75. The company raised $1 billion by offering 28.5 million common shares. The offering started trading on the Nasdaq Global Select Market on Wednesday under the symbol ‘FRSH,’ and it is projected to close on September 24, 2021.

Freshworks had previously announced its plans to offload shares at a price range of $32-34 per share, up from $28-$32 per share. It has offered the underwriters a 30-day option to acquire up to an additional 2,850,000 shares of Class A common stock at the IPO price, excluding underwriting discounts and commissions. The company became the first Indian SaaS startup to debut on Nasdaq, joining travel firms MakeMyTrip and Yatra on the world’s second-largest stock exchange.

Freshworks secured $150 million in funding from investors including Sequoia Capital, CapitalG, and Accel in November 2019 at a $3.5 billion valuation. The company also counts Steadview Capital and Tiger Global Management as investors.

Freshworks expects to use the capital from the offering to acquire complementary businesses, products, services, or technology. A chunk will also be used for common corporate purposes such as working capital, operating expenses, and capital expenditure.

Freshdesk, founded in 2010 by Mathrubootham and Shan Krishnasamy, began as a helpdesk software for customer service. In June 2017, it chose to rebrand as Freshworks to showcase the company’s exponentially growing software portfolio. Freshworks claims to have around 52,500 customers globally and recorded $169 million in revenue in the first half of 2021. The company’s revenue has increased by almost $60 million since the first half of 2020.

Tags: FreshWorksGirish MathruboothamIPONASDAQSaasShan KrishnasamyTiger Global Management
Tweet54SendShare15
Previous Post

Ford, Redwood partnership to form supply chain loop for EV batteries

Next Post

How to send Certified Mail

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Tesla India Begins in Mumbai July 15, Expanded Showroom Plans Ahead

by Thomas Babychan
July 13, 2025
0
Tesla India

Tesla, the world’s second-largest electric vehicle manufacturer, has officially confirmed its entry into the Indian market, with its first showroom set to open on July 15, 2025, in...

Read more

Creating Real-Time Visibility into Startup Team Workload and Progress

by Rohan Mathawan
July 11, 2025
0
Creating Real-Time Visibility into Startup Team Workload and Progress

From Chaos to Clarity Here’s the story of a fast-growing edtech startup. At first, everything went smoothly. They had a product, a small team, and clear goals. But...

Read more

Trackon: Powering India’s Logistics with Smart Systems

by Rohan Mathawan
July 7, 2025 - Updated On July 9, 2025
0
Trackon: Powering India’s Logistics with Smart Systems

In an era where speed, transparency, and digital precision define the future of logistics, Trackon is rewriting the playbook on how legacy courier systems can evolve without disruption....

Read more
Next Post
How to send Certified Mail

How to send Certified Mail

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?