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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The first ever Indian software product company to list on the Nasdaq is tentatively looking to raise just $100 million in its IPO. It bears asking why.
Editor's note: It is sunny days for Indian companies that offer software as a service. Last year, however, over half a dozen unlisted SaaS firms turned unicorns—startups worth over $1 billion—as their investors valued them higher while giving them new capital. Against this backdrop, it would seem surprising that India’s best known SaaS company, the Chennai- and San Mateo-based Freshworks, would want to raise only $100 million in its impending initial public offering on the Nasdaq. Or so it has said in its filings with the US Securities and Exchange Commission. Analysts have estimated that the IPO could value it at $10 billion—meaning the company wants to just give away a percent of its capital in the public offer of shares. Freshworks’s revenue has been growing at a fast clip—a little over 40% year-on-year growth in 2020—and its losses have dropped significantly in the June quarter this year. The company boasts of gross margins of over 80%, coupled with low customer attrition. The SaaS industry, too, is on a roll, with its business exploding due to all the digital transformation companies have …
The first ever Indian software product company to list on the Nasdaq is tentatively looking to raise just $100 million in its IPO. It bears asking why.
Editor's note: It is sunny days for Indian companies that offer software as a service. Last year, however, over half a dozen unlisted SaaS firms turned unicorns—startups worth over $1 billion—as their investors valued them higher while giving them new capital. Against this backdrop, it would seem surprising that India’s best known SaaS company, the Chennai- and San Mateo-based Freshworks, would want to raise only $100 million in its impending initial public offering on the Nasdaq. Or so it has said in its filings with the US Securities and Exchange Commission. Analysts have estimated that the IPO could value it at $10 billion—meaning the company wants to just give away a percent of its capital in the public offer of shares. Freshworks’s revenue has been growing at a fast clip—a little over 40% year-on-year growth in 2020—and its losses have dropped significantly in the June quarter this year. The company boasts of gross margins of over 80%, coupled with low customer attrition. The SaaS industry, too, is on a roll, with its business exploding due to all the digital transformation companies have …
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
