Software-as-a-service (SaaS) firm Freshworks is set to go public on the Nasdaq today, September 22, trading under ticker symbol FRSH.
With a potential valuation of approximately $10.13 billion, the company is offering 28.5 million shares priced at $36 apiece.
Freshworks, which is used by more than 50,000 businesses in 120 countries was valued at about $3.5 billion during its last funding round almost two years ago.
Here is how you can buy shares
The stock can be found under the ticker symbol FRSH.
Please note that orders can only be placed as Limit Orders until regular trading commences after the opening auction on September 22.
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Founded in Chennai, India in 2010 after Freshworks’ CEO Girish Mathrubootham struggled with poor customer service when trying to return a broken television, the company started life with a single price of software called Freshdesk. The company has since moved to San Mateo, California and offers a suite of products that help businesses with customer management, like a messaging platform, an artificial-intelligence powered chatbot for customer support and call centre solutions that promise shorter waiting times.
More specifically, some of its well-known products include Freshdesk Support Desk, which helps businesses interact with end users and respond to customer service requests across multiple channels, as well as Freshdesk Customer Success, which helps B2B (business to business) subscription companies manage their customers. In addition, it also allows for automation of routine, repetitive tasks, as well as managing various HR functions like hiring, onboarding and tracking employee data.
Freshworks has reported a nearly 53% surge in revenue as more and more customers have signed up for its services, while it has continued to benefit from the rise in post-pandemic hybrid work. The company earned $168.9 million in revenue for the six months ended June 30, up from $110.5 million in the same period last year.
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