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

by Mike Robinson

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© Reuters. FILEPHOTO: On July 29th, 2017, a man presses the keys on a keyboard in Las Vegas. REUTERS/Steve Marcus/File Photo

(Reuters) -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.

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.

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 (NYSE:), could be valued at around $10 billion in a stock market debut.

Freshworks is utilized by over 50,000 organizations in 120 countries. These include high-profile names like Delivery Hero SE, Vice Media, and Klarna, the Swedish payments firm.

Morgan Stanley (NYSE:), J.P. Morgan and Bofa Securities are the lead underwriters for the Freshworks offering.

Freshworks, which was launched from the South Indian city of Chennai, will list on the Nasdaq under the symbol “FRSH”, a regulatory filing showed https://www.sec.gov/Archives/edgar/data/0001544522/000162828021018866/freshworkss-1a3.htm.

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