Freshworks founder thanks Rajinikanth; files for $100 million IPO

The total number of equities to be offered and the price range for the proposed offering have not yet been set on

The founder of Freshworks, Girish Mathrubootham had thanked film industry superstar Rajnikanth as it filed its initial public offering for listing in the United States market

 

Freshworks company is looking to raise USD 100 million.

 

Mathruboothamm, a self-confessed Rajnikanth fan in the post script of the S-1 filing said, “The code name of our IPO was Project Superstar, named after the most successful movie star from Tamil Nadu, Rajnikanth."

 

He added, "I want to express my love and gratitude to him for being my maanaseega Guru.”

 

It is known to all that Girish Mathrubootham is one of biggest fan of the star Rajnikanth and has often booked entire cinema halls for Freshwork employees to see the superstar's newly released films.

 

While explaining the word "Maanaseeha Guru", Girish said that there is no comparable word in English language to express what this word means.

 

Freshworks is one of the initial success business stories of an Indian startup in the software-as-a-services (Saas) segment.

 

In a statement, Freshworks said that it publicly filed a registration statement on Form S-1 with the United States Securities and Exchange Commission relating to a proposed IPO of its Class A common stock.

 

The total number of equities to be offered and the price range for the proposed offering have not yet been set on.

 

As per to the filing the Freshworks has 52,000 customers and reported revenue of USD 308 million (LTM) as of June 30, 2021 and the company customers in the USD 5,000 ARR category is over 13,000.

 

Freshworks had raised funds last in 2019. The company had raised USD 150 million in a series H round which brought the company’s total fund raised to nearly USD 400 million and this deal valued Freshworks at USD 3.5 billion.

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