Freshworks plans a $ 912 million IPO at a valuation of nearly $ 9 billion - Start Up Gazzete
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Freshworks plans a $ 912 million IPO at a valuation of nearly $ 9 billion


FRESHWORKS Inc. aims to raise nearly $ 1 billion through a public listing in the United States at a valuation of nearly $ 9 billion, making it the most valuable software-as-a-service (SaaS) startup in the world. India.

In its latest filing with the United States Securities and Exchange Commission (SEC) on Monday, Freshworks said it plans to offer 28.5 million Class A common shares at a price range of $ 28 to $ 32 per share. With this, the unicorn will seek to raise between $ 798 million and $ 912 million through the initial public offering (IPO).

Freshworks will seek a nearly $ 9 billion valuation at the upper end of the price band, the filing showed. This will make Freshworks the most valuable SaaS startup in India, after listing, surpassing the application program interface (API) development platform, Postman, which was recently valued at $ 5.6 billion and the platform of mobile app test, BrowserStack valued at $ 4 billion this year.

Freshworks was last valued at $ 3.5 billion in November 2019.


Last month, the company made its first filing with the US SEC for the IPO.

“We have two classes of authorized ordinary shares: Class A ordinary shares and Class B ordinary shares. The rights of holders of Class A ordinary shares and Class B ordinary shares are identical, except with respect to voting and conversion. Each A share of the Class A common stock is entitled to one vote. Each share of the Class B common stock is entitled to 10 votes and is convertible at any time into one share of the Class A common stock, “Freshworks said in its latest filing. .

“The outstanding shares of Class B common shares will represent approximately 98.9% of the voting power of our outstanding capital stock immediately following this offering, with our directors, executive officers and principal shareholders representing approximately 78.3% of such voting power “, according to the last presentation.

Freshworks follows a dual headquarter model between San Mateo, California, in the US and Chennai in India. Founded in India, most of Freshworks ’technology and operations team is based in the country.

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Joshua Smith

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