CEO who made his employees crorepatis!
Thanks to the Freshworks initial public offering, the 46-year-old entrepreneur, who grew up in the historic city of Trichy in tamil Nadu, now has a "huge feeling of fulfilment" for assuring wealth creation for his employees (IPO).
The software-as-a-service (SaaS) firm raised $1.03 billion at a valuation of over $10 billion after debuting on the Nasdaq Global Select Market at a price far over its IPO target range. The Accel and Sequoia Capital-backed SaaS business, which trades on the Nasdaq under the ticker code FRSH, sold 28.5 million shares for $36 each, much above its revised IPO price range of $32-$34, indicating significant investor demand.
According to Girish, at least 76%of Freshworks workers now hold stock in the business. He went on to say that the figure would have been higher if it hadn't been for a recent flurry of hirings, which reduced it down to 76%.
According to Girish, at least 70 of the more than 500 new crorepatis hired as a result of the Freshworks IPO are under 30 years old, with many joining the firm right out of college.