Girish Mathrubootham’s business software firm Freshworks Inc made a stellar debut on Nasdaq on September 22 after its billion-dollar IPO. The company has become the first Indian SaaS company and the first unicorn to list on the exchange. Freshworks is now valued at $12.2 billion after shares opened 21% above the initial offering price, indicating a strong demand for firms that have thrived during the coronavirus pandemic. Freshworks had priced its US IPO above the target rand to raise $1.03 billion; it priced 28.5 million shares at $36 per share. Founded in 2010, the company is backed by Accel and Sequoia Capital.
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