At the higher end of the range, it will bring in $ 912 million. It joins a generous range of listings from the software and technology area.
Most of these debuts received strong interest from market participants who expect companies to benefit from the move to so-called “hybrid” work patterns. After the pandemic, the traditional nine-to-five employees are increasingly spending part of the working week at home and the rest in shared offices.
How to trade stocks on City Index
You can trade City Index stocks with spread bets or CFDs with spreads from 0.1%. Follow these simple steps to start trading now.
- Open a City Index account or log in if you are already a customer.
- Find the company you want to trade with on our award-winning platform.
- Choose your position and size, as well as your stop and limit levels.
- Place the trade
Did you know already? Our award-winning platforms and mobile apps offer advanced tools, charting and multi-device trading.
Try a demo account (UK)
Try a demo account (AU)
Try a demo account (SG)
What does Freshworks do?
Freshworks is headquartered in San Mateo, California and has 13 offices around the world. Freshworks belongs to the new generation of software-as-a-service companies that have set themselves the goal of taking the problems with technology away from business customers.
It claims to develop technology that “works for everyone and makes it easy for IT, customer service, sales, marketing, and human resources to get their jobs done and delight their customers”.
Freshworks is particularly adept at customer management, hosting messaging platforms and an AI-based chatbot for customer support.
The 50,000 customers include Bridgestone, Klarna, ITV and Vice Media. Founded in 2010 by Girish Mathrubootham and Shan Krishnasamy, Freshworks has come a long way since its inception in Chennai, India.
How does Freshworks make money?
Freshworks makes money through the Software-as-a-Service model, an increasingly popular way of delivering technology to customers.
Software-as-a-Service offers massive advantages over simple installation, as the technology is managed in the cloud, updated automatically and is largely virus-proof.
As of September 2021, Freshworks UK website will charge £ 12, £ 35 or £ 60 per month, depending on the customer’s needs.
Add-ons are available, including chatbot sessions, as well as packages for field workers who may need to log in from a variety of IP addresses and require additional functionality.
What is Freshworks’ business strategy?
Freshworks has made expanding its partner network a key element of its growth strategy, according to the IPO prospectus filed with the US Securities and Exchange Commission.
The company plans to invest more money and resources in expanding its channel partnerships. It already has relationships with over 400 distributors around the world.
It also has stores with around 350 independent software vendors, as well as integrations with platforms like Slack and TeamViewer.
In a statement, Freshworks said, “We believe that the continued growth of our business depends on identifying, developing and maintaining strategic relationships with additional channel partners that can generate significant revenues.”
Freshworks has been quiet on the acquisition front since July 2020 when it bought out its youngest company. That was Flint, an IT orchestration and cloud management platform.
Is Freshworks Profitable?
It’s unclear whether the entire Freshworks operation is still profitable, but annual sales are growing rapidly from year to year.
In 2020, it topped $ 300 million in annual subscription revenue for the first time, up about 40% year over year. Healthcare, education, and government customers were quick to sign up for subscriptions.
The company’s Indian wing, Freshworks Technologies Pvt Ltd, has been profitable since 2018.
Freshworks Board of Directors
- Girish Mathrubootham, Co-Founder and CEO
- Roxanne S. Austin, President and CEO of Austin Investment Advisors
- Johanna Flower, former Chief Marketing Officer of CrowdStrike
- Sameer Gandhi, partner at Accel, a venture capital company,
- Randy Gottfried, former AppDynamics CFO
- Zachary Nelson, former chief executive officer at NetSuite
- Barry Padgett, Amperity’s chief operating officer