Freshworks Startup Financials
Freshworks Inc. is planning to raise nearly $1 billion through a public listing in the US at a valuation of almost $9 billion, which will make it one of the most valuable software-as-a-service (SaaS) startups from India.
Freshworks filed a new filing Monday with the US Securities and Exchange Commission. It stated that it will offer 28.5 million Class A shares at prices between $28 and $32. The unicorn hopes to raise $798 million to $912 million via the initial public offering (IPO).
Freshworks has 2 headquarters b/w San Mateo, California (USA) and Chennai (India). Founded in India, most of Freshworks’ technology and operations team is based in the country.
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Pinelabs Startup Financials
Pine Labs, a merchant platform company, may go public sooner than anticipated. According to regulatory filings, the company passed a resolution to make its Singapore-based holding company public.
This renaming of the company from Pine Labs Pte has resulted in Pine Labs Limited being the new company name. It indicates that preparations for an IPO have begun to gain momentum.
According to Sources, the company will likely list in the US within the next 10-12 month. Although the company has not yet provided details about the issue or valuation, a TOI report estimated that Pine Labs would be seeking a $5 billion valuation for a potential IPO.
The conversion from a private company into a public company has taken place weeks after the closing of its $600m funding round at a valuation of $3.5 billion. Pine Labs raised $285m in May, and another $315 million in July. Sources claimed that the financing round was the final private financing for Pine Labs.
Pine Labs, which would be the fourth fintech company to move closer to a public list, will join Policybazaar, Paytm and Mobikwik. Vijay Shekhar Sharma's firm wants to be one of the largest IPOs with a valuation between $25-30 billion.
Pine Labs was also instrumental in facilitating Sequoia Capital's partial exit via a secondary transaction. Seven investors, including Duro Capital, Moore Strategic Ventures, Marshall Wace and Lenarco Limited, received shares in the VC firm that were worth $225-$230 millions.
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