IT company Freshworks Inc. made 500 of its employees millionaires in one stroke. The Girish Mathrubhootam profile: Who is Girish Mathrubhootam whose company made 500 employees millionaires.
Business software firm Freshworks Inc made a bang on Wednesday on the American exchange Nasdaq. With this, the company made 500 of its employees millionaires. Of this, 69 are under 30. It is the first Software Age Services (SaaS) and Unicorn company in India to be listed on NASDAQ. Shares of this Girish Mathrubhootam company entered the Nasdaq index at a premium of 21 per cent over its issue price. With this, the company’s market cap reached above $12 billion.
He said that with Freshworks going public, 500 employees of the company have become millionaires out of which 69 are below 30 years of age. Two-thirds of FreshWorks employees are shareholders. The company’s cofounder and CEO Matrubhootam said that those who worked hard day and night to make the company should be rewarded. More than 500 of our employees in India will become millionaires. Of these, 69 are below 30 years of age. On listing the company in the US instead of India, he said that Freshworks has been a global company since its inception. Its customers are in more than 120 countries and most of its revenue comes from America.
Who is Girish Matrubhootam?.
In an interview with legendary cricketer Ramachandran Ashwin, Matrubhootam said that he does not come from a business family. His father worked in the bank. I myself have worked in a software company. That’s why I understand the dreams of a common employee very well. I told my wife that I am not starting this company to buy a BMW for myself, but I want every employee to have a BMW. The first step to success is to dream. Giving credit for the success of the company to all its employees, he said, “I am thankful to the employees for their contribution. I believe that it is not only my role in making Freshworks, we are making it
One of the most successful software startup founders in the country, Matrubhootam is a huge fan of Tamil superstar Rajinikanth. His passion for Rajinikanth is such that whenever a new film of Rajinikanth is released, he gets the entire hall booked for his employees in Chennai. He may have gone to America to give wings to his business, but his passion for Rajinikanth still remains. He named his IPO Project Superstar.
Freshworks Inc. Listing.
Freshworks was started in 2010. Then Mathrubhutam and Shan Krishnasamy started work on cloud-based customer service software. Matrubhootam, popularly known as Ji among his friends, worked in Zoho after graduating from Shastra University, Tanjore. By the time Freshworks was established, many companies in the world had entered this sector. At that time its success was being doubted.
Freshworks received its first funding in 2011. Accel invested $1 million in this. The company also got its first customer in the same year. Freshworks then expanded its product range to include sales and CRM. Also Freshworks was rebranded as Freshdesk. In 2021, its annual recurring revenue grew by 49% to cross $ 300 million. Along with this, he has also created a fund to invest in startups.
Freshworks Inc. IPO
The company’s business model is based on upmarket sales and its products. This company has done a great job on the sales model. According to Freshworks, business software is expensive and at the same time not easy to use. Freshworks makes ‘ready to go’ software that is easy to use. For this, the company has also made its own customer care call support, where information can be taken at any time. The offices of this company are spread all over the world including countries like Paris, Netherlands and France. Companies like Steadview Capital, Essel, Capital G, Sequoia Capital, Tiger Global Management have invested extensively in Freshworks.