Freshworks Inc. provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks.The company became the first Indian-origin SaaS company to list on the Nasdaq.The company’s shares opened 21% above the initial offering price of $36, and at the close of Wednesday, September 22, had a market cap of over $13 billion. And in the process 500 of it’s employees became crorepatis and several of them are under the age of 30.
“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,” said the CEO and the Co-founder of the Company thanking the employees and the customers for believing and helping the dream come true.
“I believe that each of my employees has earned this,” he said. “Wealth has to be shared with the people who helped create it. It’s not only for founders and CEOs to enjoy,” he said.
The company was founded by Mathrubootham and Shan Krishnasamy as Freshdesk in 2010 and was rebranded as Freshworks in 2017. Freshworks started from a 700 sq ft warehouse in Chennai and has gone on to disrupt the customer relationship management (CRM) market, where it competes with the likes of Salesforce. Mathrubootham mentioned that when he started the company he wanted to reach the revenue of 1 million dollar until Mr. Shekhar Kirani of Accel put the idea of a U.S. IPO in his head that “you can sell Freshworks and make a lot of money, or you can be the first Indian company in SaaS to go public in the U.S. and it would really be a historic milestone,”. “And from that point on that was when the dream towards today actually started.” Mathrubootham said