• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, June 15, 2025
  • Login
  • Register
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 Business

Freshworks Stock gained 32% after raising $1 billion in IPO

by Rohit Yadav
September 24, 2021
in Business, Markets, News, Startups, Tech, Trending
Reading Time: 2 mins read
0
Freshworks – Fresh on the Block
TwitterWhatsappLinkedin

Freshworks Inc. gained 32 percent after raising $1 billion in an IPO priced over the advertised range.

You might also like

India Considers Grounding Boeing 787-8 Fleet After Ahmedabad Tragedy

Boeing Lays Off 180 Engineers in Bengaluru Amid Global Restructuring Drive

McLaren Returns to Le Mans with All-New Hypercar for 2026

Image: Freshworks

The software company’s stock ended at $47.55 in New York trade on Wednesday, giving it a market worth of $13 billion. Freshworks’ fully diluted valuation would be more than $14 billion if employee stock options and restricted stock units were factored in.

Today is a dream come true for me – from humble beginnings in #Trichy to ringing the bell at @Nasdaq for the FreshWorks IPO. Thank you to our employees, customers, partners, and investors for believing in this dream. #Freshworks #IPO #NASDAQ pic.twitter.com/fXz73YxXXR

— Girish Mathrubootham (@mrgirish) September 22, 2021

In a 2019 financing round, the prospective challenger to considerably bigger Salesforce.com Inc. was valued at $3.5 billion. Freshworks sold 28.5 million shares for $36 each on Tuesday, after selling them for $32 to $34 apiece, a goal it had raised from $28 to $32.

Freshworks had a 40% increase in revenue last year after the coronavirus epidemic drove firms to go digital, and revenues are expected to continue to rise in the first half of 2021, while the company’s net loss narrows.

With 52,500 clients, the company’s sales increased to $169 million in the first half of this year, up from $110 million in the first half of 2020. According to the company’s papers, its net loss decreased to $9.8 million from $57 million a year before.

Stakes of Accel

Freshworks began in India and then relocated to Silicon Valley in order to be closer to its clients. The firm is now located in San Mateo, California, although it still employs a large number of people in Chennai, India. Freshworks creator Girish Mathrubootham compared the program to the iPhone in filings with the US Securities and Exchange Commission, arguing that firms shouldn’t have to rely on numerous tools to connect with consumers.

Accel India and Tiger Global Management affiliates each own more than a fifth of the company’s Class B shares.

Mathrubootham stated that his first goal for the firm was to generate $1 million in sales. He claimed that was until Accel’s Shekhar Kirani suggested an IPO in the United States.

“He said you can either sell Freshworks for a lot of money or you can be the first Indian SaaS firm to go public in the United States, which would be a historic milestone,” Mathrubootham added. “And it was from that moment forward that the dream toward today began.”

Appreciative to Salesforce

He went on to say that Salesforce.com CEO Marc Benioff is a “great leader.”

He stated, “We have enormous respect for Salesforce and what they’ve built.” “We would want to see Freshworks reach even higher heights.”

Freshworks board member and Accel partner Sameer Gandhi claimed the business didn’t require U.S. sales expertise to get off the ground.

“The product needs to be the salesperson,” he added, adding that the company’s software is straightforward and simple to use, which helps it expand. He went on to say that he expects the firm to make more acquisitions in the future.

Morgan Stanley, JPMorgan Chase & Co., and Bank of America Corp. led the IPO. The Nasdaq Global Select Market trades Freshworks shares under the ticker FRSH.

Also read:

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

Freshworks, a software startup makes move for an IPO

Tweet54SendShare15
Previous Post

How to send Certified Mail

Next Post

Everything you need to know about Twitter’s new tip feature

Rohit Yadav

Hi! I'm Rohit, If you like reading about markets, technology and business, you've come to the right place. Catch me: [email protected]

Recommended For You

India Considers Grounding Boeing 787-8 Fleet After Ahmedabad Tragedy

by Anochie Esther
June 15, 2025
0
Boeing 787-8

India’s civil aviation sector is in mourning following one of its deadliest air disasters in recent history. An Air India Boeing 787-8 Dreamliner en route to London’s Gatwick...

Read more

Boeing Lays Off 180 Engineers in Bengaluru Amid Global Restructuring Drive

by Anochie Esther
June 15, 2025
0
Boeing

In a significant development that reflects the ongoing turmoil within the global aerospace industry, Boeing has laid off up to 180 engineers from its India operations as part...

Read more

McLaren Returns to Le Mans with All-New Hypercar for 2026

by Samir Gautam
June 15, 2025
0
McLaren Returns to Le Mans with All-New Hypercar for 2026

McLaren has officially announced its long-awaited return to top-tier endurance racing, unveiling its Hypercar for the 2026 FIA World Endurance Championship (WEC), which includes the prestigious 24 Hours...

Read more
Next Post
BuyUcoin

Everything you need to know about Twitter's new tip feature

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? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

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?