Main Highlights
- Freshworks, the SaaS unicorn, aims to raise almost $1 billion in its initial public offering (IPO), which will value the California firm at a whopping $9 billion.
- Freshworks, the poster child for India’s SaaS sector, is one of the most anticipated IPOs from the Indian startup scene.
- Freshworks creates technology that works for everyone, making it simple for IT, customer support, sales, marketing, and HR.
- In a report on its financial performance, the firm announced that total revenue for the six months ended June 30, 2021, was $168.9 million.
Freshworks, the SaaS unicorn, aims to raise almost $1 billion in its first public offering (IPO), which will value the California firm at a whopping $9 billion. The firm stated in a regulatory filing with the US Securities and Exchange Commission (SEC) that it will issue 28.5 million shares at a price range of $28 to $32 per share. Freshworks might raise between $798 million and $912 million as a result of this.
Freshworks Inc. is distributing 28,500,000 shares of Class A common stock. This is their inaugural public offering, and there is presently no public market for shares of our Class A common stock. The initial public offering price is expected to be between $28.00 and $32.00 a share, according to the document. Freshworks, the poster child for India’s SaaS sector, is one of the most anticipated IPOs from the Indian startup scene.
Benefits of using Freshworks
Freshworks enables businesses to delight their consumers and workers quickly and easily. They accomplish this by taking a novel approach to developing and providing software-as-a-service that is inexpensive, easy to install, and tailored to the end customer.
Freshworks, unlike traditional software, creates technology that works for everyone, making it simple for IT, customer support, sales, marketing, and HR to accomplish their jobs and delight their customers. Freshworks’ SaaS is used by over 50,000 businesses to improve the customer experience (CX, CRM) and employee experience (ITSM, HRSM).
Their innovative approach to business software has allowed over 50,000 organizations worldwide, large and small, to surpass customer and employee expectations. They fulfill the unfulfilled promise of simple-to-use SaaS software by assisting clients in driving unambiguous business results.
Freshworks, headquartered in San Mateo, California, has a committed staff serving customers worldwide from 13 global locations. Freshworks places people’s happiness and eases at the center of all they do. Delight, for them, is not a means to an end, but an end in itself. They joyfully work from the inside out. Customers are delighted when their staff is happy. Freshworks takes pride in what they do, and it shows in the products they provide.
Throughout the company’s spectacular growth, its dedication to people has never wavered—to communication, cooperation, and empathy. Freshworks fulfills this promise by delighting not just its clients but also its workers, who discover in Freshworks a place to tap into their best abilities; to learn; to lead; to develop, and to flourish. They are constantly putting the employee first. Happiness, well-being, and meaningful employment are given top importance. At Freshworks, everyone is encouraged to take ownership of their work, and quality over quantity is emphasized.
Total Revenue
In a report on its financial performance, the firm announced that total revenue for the six months ended June 30, 2021, was $168.9 million, up 53 percent from $110.5 million in the previous year’s similar period. The overall revenue for 2020 was $249.7 million, a 45 percent increase over the previous year’s sales of $172.4 million. Its net loss was also reduced by 83 percent. Net losses during the first six months of 2021 were $9.8 million, compared to $57.1 million in the same time the previous year.
According to Freshworks, the addressable market opportunity is about $120 billion, citing IDC data, while its internal study suggests an annual potential market size of around $77 billion for its products.
