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Freshworks raises U.S. IPO price range, targets nearly $10 billion valuation

Salesforce rival Freshworks valued at over $12 billion as shares climb in debut
Salesforce rival Freshworks valued at over $12 billion as shares climb in debut   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p> -Freshworks Inc on Monday raised its target price range for a U.S. initial public offering, which could bring up the valuation of the business and customer engagement software company to nearly $9.6 billion.</p> <p>The San Mateo, California-based company expects to raise $969 million at the top end of its new price range of $32 to $34 per share, up from $28 to $32 per share earlier https://www.reuters.com/technology/salesforce-rival-freshworks-aims-nearly-9-bln-valuation-us-ipo-2021-09-13. </p> <p>Reuters reported in April https://www.reuters.com/technology/exclusive-salesforce-rival-freshworks-hires-banks-ipo-sources-2021-04-27 that Freshworks, which competes with Salesforce.com Inc, could be valued at around $10 billion in a stock market debut. </p> <p>Freshworks’ technology is used by more than 50,000 companies in 120 countries, including high-profile names such as Delivery Hero SE, Vice Media and Swedish payments firm Klarna.</p> <p>Morgan Stanley, J.P. Morgan and Bofa Securities are the lead underwriters for the Freshworks offering. </p> <p>Freshworks, which was launched from the South Indian city of Chennai, will list on the Nasdaq under the symbol “<span class="caps">FRSH</span>”, a regulatory filing showed https://www.sec.gov/Archives/edgar/data/0001544522/000162828021018866/freshworkss-1a3.htm.</p> </div>