Freshworks has launched a $500 million share sale for its senior-level leadership, workers, and other shareholders, making it one of the largest cashouts by an Indian startup this year.
The company has filed a re-offer prospectus with the US Securities and Exchange Commission in order to begin selling 13,555,142 shares of Class A common stock.
Freshworks CEO Girish Mathrubhootham would sell approximately 2.4 million shares worth $92.7 million as part of the liquidity event. Jose Morales, the company’s chief revenue officer, and Srinivasagopalan Ramamurthy, the company’s chief product officer, will both sell shares worth more than $11.5 million.
In total, the company intends to sell shares worth more than $519 million in phases. The company’s Class A common stock last sold for $43.06 a share, according to the last recorded sale price. Freshworks’ stock was trading at $38.3 per share at the time of publishing.
Following a billion-dollar initial public offering in September, Freshworks became the first Indian-origin software startup to list on the Nasdaq stock exchange, raising $1.03 billion and achieving a market worth of well over $10 billion.
