Freshworks IPO creates over 500 crorepatis in India post Nasdaq listing

Tech firm Freshworks, which made its debut on the Nasdaq stock exchange after a billion-dollar IPO (Initial Public Offering), said 500 of its employees in India are crorepatis (millionaires), with 70 of them below the age of 30. 

Creating history, Freshworks became the first Indian SaaS company to list on the American bourse on Wednesday. 

The firm has around 4,000 employees with 76% of them owning its stock options. In interviews to several media outlets, Freshworks CEO Girish Mathrubootham highlighted that the company's IPO created a lot of wealth for its employees.

Also Read: Freshworks completes billion-dollar IPO, officially lists on Nasdaq

"It gives me a great sense of fulfillment today. This IPO has given me an opportunity to fulfill my responsibility to all the employees of Freshworks till date who have believed in us over the last ten years and contributed to Freshworks," Mathrubootham told news reporters on Wednesday from New York after ringing the 'iconic' Nasdaq opening bell in honour of the company's listing day.

"This [creating crorepatis] is truly that India needs to do more of. It is well deserved, and they all earned it. As the company grew, all these employees have contributed to that. I truly believe that wealth has to be shared with the people who created it. It is not just for the founders to get rich or the investors to get rich. I am super happy. We are making an impact and will continue to do that," he added.

"Today is a dream come true for me - from humble beginnings in #Trichy to ringing the bell at @Nasdaq for the FreshWorks IPO. Thank you to our employees, customers, partners, and investors for believing in this dream. #Freshworks #IPO #NASDAQ," Mathrubootham said in a tweet also.

Freshworks had announced the pricing of its IPO of 28,500,000 shares of Class A common stock at $36 per share. In terms of revenue, the US and Europe are the company's two largest markets, while 16 per cent of its revenue comes from the rest of the world (RoW).

Also Read: Freshworks raises US IPO price range, eyes $10 bn valuation