Freshworks turns out to be first Indian SaaS startup to list on Nasdaq

Freshworks turns out to be first Indian SaaS startup to list on Nasdaq-stuffsearth

    Freshworks had priced its US initial public offering (IPO) well above the target range to raise $1.03 billion, valuing the rival at $10.13 billion as hybrid work fuels demand for its products

    Business programming firm Freshworks Inc on Wednesday made a heavenly introduction on Nasdaq trade after its billion-dollar IPO. With this, the organization turns into the primary Indian 'SaaS' organization and the principal unicorn to list on the trade. 

    The firm had estimated its US first sale of stock (IPO) well over the objective reach to raise $1.03 billion, esteeming the rival at $10.13 billion as cross breed work energizes interest for its items. Freshworks evaluated 28.5 million offers at $36 per share, the organization supported by Accel and Sequoia Capital said on Tuesday. It had before expected to raise $969 million at the top finish of its expanded value scope of $32 to $34 per share. 

    "Today is a little glimpse of heaven for me - from humble beginnings in #Trichy to ringing the chime at @Nasdaq for the FreshWorks IPO. Much thanks to you to our representatives, clients, accomplices, and financial backers for having confidence in this fantasy. #Freshworks #IPO #NASDAQ," tweeted author and CEO Girish Mathrubootham. 

    San Mateo, California-based Freshworks joins various large names from the venture programming business that enjoy taken benefit of intensely hot U.S. capital business sectors in the course of recent months. Most programming IPOs during that period have been generally welcomed by financial backers who see space for development in the area even after the pandemic, as the reception of mixture work models by organizations across the world drive up interest for big business programming items. 

    Established in Chennai, India, in 2010, Freshworks assists organizations with client the executives, offering items including an informing stage, a man-made reasoning fueled chatbot for client service and call-focus arrangements that guarantee more limited stand by times.  Freshworks shares are booked to begin exchanging on the Nasdaq on Wednesday under the image "FRSH".  Morgan Stanley, J.P. Morgan, BofA Securities are the lead guarantors for the contribution.

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