Freshworks increases the IPO price; listed in the Nasdaq on September 22, at a price of almost 10 billion dollars

Freshworks increases the IPO price; listed in the Nasdaq on September 22, at a price of almost 10 billion dollars

Freshworks – founded in a small warehouse in Chennai’s obscure suburb in 2010 – is all on Wall Street for its debut. On 22 September, Nasdaq will raise nearly $1.07 billion.

|amp|

Moreover, Freshworks has increased its IPO price band after successful road shows. Freshworks’ new pricing band is $32-34 per share in regulatory filings to the Securities Exchange Commission in the USA, versus $28-32 per share. Freshworks is now looking for an assessment of almost $10 billion, up from the $9 billion value it was looking for until last week.

The last appraisal of Freshworks amounted to $3.5 billion in 2019, before the Covid-19 pandemic raised SaaS companies’ fortunes for obvious reasons.

In its filings, Freshworks revealed that it can use the net proceeds of the IPO to acquire complementary companies, products, services or technologies.

IPO

Categories: CRM, Information Services, Information Technology, SaaS
Founded Date: 2010
Founders: Girish Mathrubootham, Shan Krishnasamy, Vijay Shankar
Funding Status: Late Stage Venture
Number of Employees: 1001-5000

Last Funding Round

Announced Date: Jan 1, 2020
Funding Type: Secondary Market
Money Raised: $85,000,000
Total Investors: 1
Lead Investors: Steadview Capital

Today Freshworks is competing with Salesforce, the King of all SaaS companies. It offers integrated customer management solutions along with a messaging platform, artificial intelligence chatbots, and call centre solutions. It automates routine tasks and manages HR functions, such as recruiting and tracking employee information. The company has over 52,000 customers and its investors include brand names such as Accel, Tiger Global and Sequoia.

Be the first to comment

Leave a Reply

Your email address will not be published.


*