Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="4621694" type="General" weightage="20" keywordseo="freshworks" source="Orion">Freshworks</keyword> made its trading debut on US stock exchange Nasdaq on Wednesday and its valuation touched $12 billion.</li><li>The company sold 28.5 million common shares, raising $1 billion in proceeds.</li><li>The CEO says that the IPO created 500 crorepatis in India, 70 of which are under 30.</li></ul>Indian software-as-a-service (SaaS) firm Freshworks made its trading debut on US stock exchange Nasdaq on Wednesday and it was a strong one. The company was valued at $12.2 billion after it opened 21% above the initial offering price of $36 apiece. Shares of Freshworks opened at $43.5. The stock hit an<a href="https://markets.businessinsider.com/news/stocks/freshworks-stock-price-ipo-nasdaq-debut-salesforce-software-crm-2021-9"> intraday high</a> of $48.75 on September 22. Freshworks sold 28.5 million common shares, raising $1 billion in proceeds. Girish Mathrubootham, in interviews with several media outlets, highlighted that the Freshworks initial public offering (IPO) created a lot of wealth for its employees as more than 500 of its employees turned crorepatis (millionaires). He further added that about 70, of these 500 employees, are under the age of 30. "I feel like an Indian athlete who has won a gold medal at the Olympics. We are showing the world what a global product company from India can achieve,” he added, in an <a href="https://www.moneycontrol.com/news/business/freshworks-ipo-creates-more-than-500-crorepatis-in-india-with-70-of-them-aged-below-30-7496681.html">interaction </a>with Moneycontrol. The company was valued at $3.5 billion when it raised $150 million funding from investors like Sequoia Capital, CapitalG and Accel in November 2019. The company is also backed by Steadview Capital and Tiger Global Management. It plans to use the proceeds from the offering to acquire complementary businesses, products, services or technology. A part will also be used for general corporate purposes like working capital, operating expenses and capital expenditure. Founded by Mathrubootham and Shan Krishnasamy as Freshdesk in 2010, the company started its journey as a helpdesk software for customer support. It decided to rebrand itself to Freshworks in June 2017 to incorporate the company’s growing software suite. Freshworks claims to have over 52,500 customers across the globe and it reported a revenue of $169 million in the first half of 2021. Compared to the first half of 2020, the company’s revenue has grown by nearly $60 million. SEE ALSO <a href="https://www.businessinsider.in/cryptocurrency/news/south-koreas-crypto-regulations-are-tightening-around-investors-and-exchanges-alike/articleshow/86426452.cms">South Korea’s crypto regulations are tightening around investors and exchanges alike</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-and-space-technologies-ipo-gets-blockbuster-demand-from-investors/articleshow/86422668.cms">Paras Defence and Space Technologies IPO gets blockbuster demand from investor</a> <a href="https://www.businessinsider.in/business/news/experts-say-karnatakas-ban-on-games-of-chance-like-dream11-and-mpl-may-face-a-legal-test/articleshow/86419697.cms">Experts say Karnataka’s ban on games of chance like Dream11 and MPL may face a legal test</a>

Freshworks IPO — 500 crorepatis, $12 billion market cap and more that emerged from India’s first SaaS listing at Nasdaq

<ul><li>Freshworks became the first Indian software-as-a-service (SaaS) firm to get listed on a US exchange by raising $13 billion on its debut day.</li><li>The IPO created 500 crorepatis in India, 70 of them are under the age of 30.</li><li>There are many more reasons why the startup industry is cheering for the <keyword id="11167545" type="General" weightage="20" keywordseo="freshworks-ipo" source="Orion">Freshworks IPO</keyword>.</li></ul>Apparently, the startup world can’t keep calm because not everyday does an Indian software-as-a-service (SaaS) firm get listed on a US exchange by raising $13 billion dollars on its debut day. Icing on the cake is that the Freshworks IPO has also created a whole lot of wealth for its employees. 500 crorepatis (millionaires) in India, 70 of them are under the <a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">age of 30</a>. Interestingly, Girish Mathrubootham, co-founder and chief executive officer of Freshworks, who is a big fan of Rajinikanth, names the opening ceremony event on Nasdaq as ‘Project Superstar’ in tribute to the famous Indian actor. There are many more reasons why the startup industry is cheering for the Freshworks IPO launch. Here are a few reactions from the India Inc: Freshworks IPO is a ‘snowball moment’ for India’s SaaS industry "An IPO is one more feather in Freshwork and Girish's hat! I strong believe they would build a long standing institution. The most gratifying part is to see the wealth created for their team, and energy they have helped propel in the India SAAS ecosystem - installing confidence in founders /to-be founders that great companies can be built from scratch. This is a snowball moment for India SAAS, and I am excited that we at Speciale are live and investing in this vibrant and growing startup ecosystem,” — Vishesh Rajaram, founder and managing partner of Speciale Invest This startup accelerator feels this is a Neeraj Chopra moment for the industry "Salesforce was the first SaaS IPO in the world in 2004. It served as a big inflection point for the entire SaaS Industry and which today, after 15 years, has an enterprise value of $2 trillion dollars. Freshworks - as the first Indian SaaS company to go IPO - acts as a similar inspiration to a growing number of SaaS startups from India. Every Indian SaaS founder is cherishing this moment just like the nation celebrated Neeraj Chopra winning Gold at the Olympics,” — Prasanna Krishnamoorthy, partner at Upekkha Value SaaS Accelerator Now the important question is who will achieve this feat next? "Successful listing of Freshworks on NASDAQ is a “Eureka” moment for the B2B SaaS sector in India which will inspire many upcoming start-ups to spread Indian product software across the globe. This feat by Freshworks showcases the potential for Indian SaaS start-ups to build globally disruptive technology product companies. It also showcases an immense amount of talent and the passion for entrepreneurship &amp; execution the Freshworks team embodies, and we (as in the Indian startup ecosystem) are eager to find out who will achieve this feat next,” — Ankur Bansal, cofounder and director at BlackSoil “Every SaaS founder in India would have a story or two about how they got inspired by Girish and the Freshworks story. Freshworks IPO makes the story they believed and got inspired by all the more real and their aspirations all the more possible. To the next 10 Indian SaaS IPOs!,” — Mayank Agarwal, cofounder at SendX “Freshworks has paved the path for future SaaS Companies that are building from India and selling globally. This is just a start of what we can see in the upcoming decade where a ton of Indian SaaS Companies will be going public. As Girish had mentioned yesterday that he feels like winning an Olympic medal, it is equivalent or more and motivates the next generation of SaaS Founders to build and go public,” — Harshit Agarwal, chief executive officer at Appknox SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">Freshworks IPO — 500 crorepatis, $12 billion market cap and more that emerged from India’s first SaaS listing at Nasdaq</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/voltas-havells-india-and-blue-star-stocks-have-gained-10-24-on-hopes-of-strong-demand-this-festive-season/articleshow/86448471.cms">Air conditioner brands Voltas, Blue Star, Havells rally ahead of festive season</a>

Landmark moment for this Rajinikanth fan’s SaaS startup on listing at US exchange

<ul><li><keyword id="2167965" type="General" weightage="20" keywordseo="girish-mathrubootham" source="Orion">Girish Mathrubootham</keyword> is the co-founder and CEO of <keyword id="4621694" type="General" weightage="20" keywordseo="freshworks" source="Orion">Freshworks</keyword>, which is worth nearly $13 billion.</li><li>“The point is you don't have to fight at that point of time, you don't have to react or respond, but to use it to fire to do something creative,” he says. </li><li>The 46-year old Mathrubootham shared stories from his life’s journey, from his parents’ divorce to scornful relatives, and how he dealt with the down moments in his life, in an interview with Business Insider.</li></ul>“I have had relatives who have told me that I am only good enough to be a rickshaw puller,” says Girish Mathrubootham, the man who went on to build Freshworks, one of the biggest software-as-a-service (SaaS) companies in India. With a valuation of $13 billion, Freshworks has become the first decacorn (a startup valued at over $10 billion) in this space and the first Indian SaaS company to<a href="https://www.businessinsider.in/tech/enterprise/news/freshworks-ipo-the-success-story-of-indias-first-saas-company-to-be-listed-in-us-stock-exchange/articleshow/86453444.cms"> list on Nasdaq</a>. In a candid conversation with Business Insider, the co-founder and chief executive officer (CEO) opened up about his early life and the challenges he overcame. The 46-year old Mathrubootham remembered the scornful remarks from 1992, when he couldn't score high enough in his class 12 and entrance exams for engineering ⁠— not from his parents but his relatives ⁠— while speaking about how he dealt with the down moments in his life. “The point is you don't have to fight (the naysayers) at that point of time, you don't have to react or respond, but to use it to fire to do something creative,” Mathrubootham says. <div type="Video" msid="86606660" hostid="261" title="A candid conversation with Freshworks founder and CEO, Girish Mathubootham" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=86606660"></div> “The other thing to do is truly follow your heart, you will be happy,” he adds, while citing multiple examples from the Indian film industry including Rajkumar Hirani’s blockbuster 3 idiots. “Madhavan [R Madhavan, who plays Farhan in 3 Idiots] says, ‘It’s okay I will not have enough money but so what, I will be happy as a wildlife photographer’,” Mathrubootham recites the dialogue. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> ‘Success is not always about money’ He had moved back to India from the US after the dotcom bubble had burst at the turn of the millennium. From earning $85,000 a year in 2001, he was back in India at a job that only paid him ₹40,000 a month in 2005-06. His father, <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms#:~:text=Girish%20Mathrubootham%20is%20the%20star,so%20that%20his%20employees%20could.">a retired bank officer today</a>, was concerned because in his eyes all of Girish’s friends were successful with well paying jobs and had bought their own house. Girish, on the other hand, only had the in-hand salary and a two-bedroom apartment on a loan. “People’s definition of success is different. I was looking at being happy. So I was going after what made me happy, not chasing money. I was enjoying my career, building products and having fun, my friends knew that but I think that was okay,” he adds. ‘Differentiating the well wishers and well informed’ Mathrubootham doesn’t take advice from everyone. “If you are Sachin Tendulkar, who do you take advice from — Gary Kirsten or the other man who is there in every Tendulkar match with the Indian flag painted on his body,” he says. He was referring to <a href="https://en.wikipedia.org/wiki/Sudhir_Kumar_Chaudhary">Sudhir Gautam</a>, a die-hard fan of Tendulkar and one who would famously be seen in every match that Team India played at home. “The said man (Sudhir Gautam) is a well wisher but Kirsten has more knowledge about this field,” Mathrubootham adds. <div type="image" title="Someone said I am good enough to be a rickshaw puller,&amp;quot; shares Freshworks CEO Girish Mathrubootham in a candid chat" msid="86508163" hostid="261" caption="&amp;lt;p&amp;gt;Sudhir Gautam&amp;lt;/p&amp;gt;"></div> “I don’t give the key to my happiness to anyone and recommend my wife to do the same,” Mathrubootham says. An early jolt that made him independent Mathrubootham was young when his parents got divorced. "I would just say that experience also made me who I am and so in a very simple sense that I had to kind of fend for myself, take my own decisions and be accountable for those decisions," he says, adding he doesn’t like taking decisions on other peoples’ part including that of his own children. If you take all the decisions for your children until they’re 25, how do you expect them to go out into the world, he adds. “Decision making also needs experience,” he believes. SEE ALSO <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years </a> <a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-lists-on-us-exchange-gives-tribute-to-rajinikanth-during-the-listing-ceremony/articleshow/86452943.cms">Landmark moment for this Rajinikanth fan’s SaaS startup on listing at US exchange </a> <a href="https://www.businessinsider.in/business/startups/news/we-asked-three-spacetech-entrepreneurs-what-it-takes-to-enter-the-field-and-they-listed-out-the-opportunities/articleshow/86484417.cms">We asked three spacetech entrepreneurs what it takes to enter the field and they listed out the opportunities</a>

WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat

<ul><li><keyword id="4621694" type="General" weightage="20" keywordseo="freshworks" source="Orion">Freshworks</keyword> made its debut in the US-based Nasdaq on September 22 and it is the first Indian SaaS company to do so.</li><li>Freshworks was the first Indian SaaS company to achieve a billion dollar valuation, in 2019.</li><li>The company has now crossed a $10 billion valuation, thanks to its public listing.</li></ul>The Indian software-as-a-service (SaaS) industry had already been growing exponentially since last year, but Freshworks’ public listing at Nasdaq has taken it all to another level. The company, which makes customer engagement software for businesses, was valued at a whopping<a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms"> $12.2 billion </a>after it opened 21% above the initial offering price of $36 apiece. Freshworks sold 28.5 million common shares, hitting an intraday high of $48.75 on September 22. Freshworks was founded over a decade ago by <keyword id="2167965" type="General" weightage="20" keywordseo="girish-mathrubootham" source="Orion">Girish Mathrubootham</keyword> and <keyword id="2167964" type="General" weightage="20" keywordseo="shan-krishnasamy" source="Orion">Shan Krishnasamy</keyword>. Both the co-founders were former employees of Zoho Corp, which too is one of the biggest SaaS companies in India. Both Zoho Corp and Freshworks are rivals and the biggest players in this industry. Here is a glimpse of Freshworks’ journey so far: <table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 910.922px; font-family: Merriweather; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Year </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Development </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Early 2010 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Girish Mathrubootham decided to start his entrepreneurial journey. Shan Krishnasamy too decided to join this venture as a co-founder. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">October 2010 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Mathrubootham and Krishnasamy resigned from Zoho Corp. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">December 2010 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Freshworks, then known as Freshdesk, incorporated in the USA due to lack of recurring payment solutions in India. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2011 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Created a team of six people — three developers, one UI/UX designer, one customer acquisition/support engineer and Mathrubootham himself as product manager and CEO. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">December 2011 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Raised $1 million in a funding* round led by Accel. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">August 2015 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Acquired co-browsing and live video chat provider 1CLICK.io. This was Freshdesk’s first acquisition. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">August 2015 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">The company crossed 50,000 customers. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">June 2017 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Freshdesk rebranded to Freshworks. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">June 2017 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">The platform was used by 100,000 companies in 145 countries. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">December 2018 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Freshworks turned unicorn, after raising $100 million at a valuation of more than a billion dollars. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">November 2019 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Freshworks valued at $3.5 billion, after raising $150 million. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">November 2019 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">It crossed 150,000 customers. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2020 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Zoho Corp filed a lawsuit alleging that Freshworks stole confidential information and built a business out of it. </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">August 2021 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Freshworks filed for $100 million IPO in USA </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2021 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Freshworks made its debut on Nasdaq and its valuation touched $12 billion. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*Freshworks has raised one funding round every year since 2011. There was a year-long break in 2017, when the SaaS firm did not raise any capital. Freshworks and Zoho’s rivalry took a serious turn in 2020, when Zoho filed a lawsuit <a href="https://economictimes.indiatimes.com/tech/startups/zoho-says-freshworks-intentionally-accessed-database-in-new-us-lawsuit/articleshow/79413070.cms">alleging</a> that Freshworks stole confidential information and built a business out of it. Vembu-led company has also accused Freshworks of poaching its employees and customers. The battle is still ongoing. According to a report by investment firm Chiratae Ventures and consulting firm Zinnov last month, the Indian SaaS segment has the potential to clock a total turnover of <a href="https://www.businessinsider.in/business/startups/news/india-software-service-sector-needs-more-than-200000-employees-by-2025/articleshow/84632003.cms">$75 billion</a> by 2025. Companies like Zoho, Freshworks, and others are expected to be at the forefront of it. Freshworks was the first Indian SaaS company to achieve a billion dollar valuation, in 2019. A year later, the company closed another round at a valuation of $3.5 billion. It is backed by some of the prominent investors across the globe — Sequoia Capital, Tiger Global, Accel, Steadview, CapitalG and more. The company raised another billion dollars through its public issue. It’s valuation also increased over three times to $12.2 billion. The SaaS giant has acquired 13 companies to date including AnswerI1Q, Flint, CanvasFlip, Natero, and Zarget, among others. "I feel like an Indian athlete who has won a gold medal at the Olympics. We are showing the world what a global product company from India can achieve,” Mathrubootham said, in an <a href="https://www.moneycontrol.com/news/business/freshworks-ipo-creates-more-than-500-crorepatis-in-india-with-70-of-them-aged-below-30-7496681.html">interaction </a>with Moneycontrol. He further claimed that the <keyword id="11167545" type="General" weightage="20" keywordseo="freshworks-ipo" source="Orion">Freshworks IPO</keyword> has made 500 crorepatis in India, 70 of which are under 30. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-need-tariff-hikes-agr-moratorium-might-not-be-enough-say-analysts/articleshow/86285450.cms">Vodafone Idea and Airtel need tariff hikes, AGR moratorium might not be enough, say analysts</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/business/corporates/news/airtel-challenges-telecom-departments-demand-of-1400-crore/articleshow/86260516.cms">Airtel challenges telecom department's demand of ₹1,400 crore</a>

The success story of India’s first SaaS company to be listed in Nasdaq

<ul><li><keyword id="2167965" type="General" weightage="20" keywordseo="girish-mathrubootham" source="Orion">Girish Mathrubootham</keyword> is the star of the Indian startup scene, transforming the lives of hundreds of his Freshworks employees who are now crorepatis.</li><li>Mathrubootham says he did not start Freshworks to buy a BMW, but so that his employees could.</li><li>He also has an immense interest in sports and started FC Madras, a football training academy, and hosted the Trichy Premier League in his hometown, Tiruchirappalli.</li></ul>It’s the age of unicorns in India, but seldom does a decacorn emerge that wows the world. Enter Girish Mathrubootham’s Freshworks, which had a blockbuster listing on Nasdaq, going from a valuation of $3.5 billion to $13 billion. In the process, Mathrubootham <a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">helped 500 of his employees turn crorepatis</a>, with 70 of them aged under 30 years. In startup parlance, a unicorn is a private company valued at or more than $1 billion and a decacorn is one worth more than $10 billion. "I feel like an Indian athlete who has won a gold medal at the Olympics. We are showing the world what a global product company from India can achieve,” he added, in an <a href="https://www.moneycontrol.com/news/business/freshworks-ipo-creates-more-than-500-crorepatis-in-india-with-70-of-them-aged-below-30-7496681.html">interaction </a>with Moneycontrol. <div type="image" title="Girish 1" msid="86453791" hostid="261" caption="&amp;lt;p&amp;gt;Girish Mathrubootham with his family during the Freshworks IPO&amp;lt;/p&amp;gt;"></div> Shares of Freshworks were up by over 33%, trading near $48 with a market capitalisation of nearly $13.4 billion. <cmsannotation type="cmsannotation" annotationid="‘I’m starting this company so everybody can buy a BMW’" comment="subhead" text="‘I’m starting this company so everybody can buy a BMW’">‘I’m starting this company so everybody can buy a BMW’</cmsannotation> Mathrubootham is the son of a retired bank officer. He founded Freshworks in 2010 along with Shan Krishnasamy. “I’m not starting a company for me to buy a BMW, I’m starting this so that everybody (employees) can do that,” he told his wife at the time of starting the company, as he reveals in a <a href="https://www.youtube.com/watch?v=3J7zcp0-rOA">freewheeling chat</a> with Indian cricketer Ravichandran Ashwin. <cmsannotation type="cmsannotation" annotationid="The birth of Freshworks – customer complaints on social media!" comment="subhead" text="The birth of Freshworks – customer complaints on social media!">The birth of Freshworks – customer complaints on social media!</cmsannotation> The idea to start Freshworks was simple, says Mathrubootham. In the past, before the explosion of social media, customers used to simply call the customer care centre to raise an issue or inquire about something. However, the arrival of social media has changed all that, with customers raising issues and posting queries on Twitter and Facebook – this is something that most of us have done at some point. This requires companies to address customer complaints across different channels, and so, having their information like account details, plans/services subscribed to, or payment information, in a quickly accessible manner becomes important. This is where the idea for Freshdesk, the company’s flagship product, was born. Then known as Freshdesk, the company rebranded itself as Freshworks in 2017. It now has tools for sales, marketing, information technology (IT) service management and human resources (HR). It claims to have over 52,000 customers and counts Tiger Global, Sequoia Capital and Accel amongst its investors. That is an amazing feat for someone born in the temple town of Tiruchirappalli in Tamil Nadu, going on to launch a billion-dollar IPO in the US. <cmsannotation type="cmsannotation" annotationid="Looking beyond business and addressing the sporting needs of youngsters" comment="subhead" text="Looking beyond business and addressing the sporting needs of youngsters">Looking beyond business and addressing the sporting needs of youngsters</cmsannotation> India is a country of over 1.4 billion people and this leads to a scarcity of many things – including good schools and colleges, and subsequently, jobs. This forces parents to force their kids to study well and land a good job. In the process, the other aspects of a child’s development get ignored. <div type="image" title="FC Madras edited" msid="86454099" hostid="261" caption="&amp;lt;p&amp;gt;FC Madras, Freshworks&amp;#39; own football team and academy&amp;lt;/p&amp;gt;"></div> In Mathrubootham’s case, he tried to address the sporting needs of youngsters by organising events like the Trichy Premier League, a minor cricket league played with tennis balls. “We’ve been an opportunity-scarce country for a long time, but not anymore. So, with that mindset, we made education an enemy of sport,” he said, explaining that we appreciate students who get 100 in math, but not if they are good at football or cricket. “A champion should be celebrated, be it a scientist or a sportsman,” he added. To that end, Mathrubootham’s Freshworks has also started FC Madras with an intention to promote grassroots football in the country. FC Madras has a residential academy and offers free scholarships to talented young players. “The whole idea is to create respect for sports people and celebrate our champions, these children who pursue the sport should be able to succeed as well-rounded human beings even if they don’t become champion footballers,” he said in an interview with <a href="https://yourstory.com/weekender/freshworks-girish-mathrubootham-kicks-off-football-fever-in-chennai-as-fc-madras-comes-alive/amp">YourStory</a>. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/freshworks-ceo-girish-mathrubootham-shares-someone-said-i-will-be-nothing-but-a-rickshaw-puller/articleshow/86507840.cms" data-type="tilCustomLink">WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat</a> <a href="https://www.businessinsider.in/videos/a-candid-conversation-with-freshworks-founder-and-ceo-girish-mathubootham/videoshow/86606660.cms" data-type="tilCustomLink">A candid conversation with Freshworks founder and CEO, Girish Mathubootham</a> <a href="https://www.businessinsider.in/stock-market/news/airtel-rights-issue-details-record-date-issue-price-and-more/articleshow/86446419.cms">Airtel rights issue worth ₹21,000 crore opens next month – record date, price, ratio and everything else you need to know</a>

Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years

<ul class="summary-list"><li>Shares of Indian software firm <keyword id="12153608" type="UNKNOWN" weightage="60" keywordseo="freshworks" source="Orion">Freshworks</keyword> jumped as much as 36% in their trading debut on Wednesday. </li><li>The firm priced its initial public offering at $36 per share Tuesday evening.</li><li>Freshworks aims to compete with <keyword id="11892769" type="UNKNOWN" weightage="60" keywordseo="salesforce" source="Orion">Salesforce</keyword> as it tries to disrupt the <keyword id="12153610" type="UNKNOWN" weightage="60" keywordseo="customer-relationship-management" source="Orion">customer relationship management</keyword> market.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/frsh-stock">Freshworks</a> jumped as much as 36% on Wednesday during its Nasdaq debut.The stock hit an intraday high of $48.75 Wednesday. Freshworks on Nasdaq trades under the ticker "FRSH." The firm priced its initial public offering at $36 per share Tuesday evening. Freshworks sold <a href="https://www.prnewswire.com/news-releases/freshworks-announces-pricing-of-initial-public-offering-301382238.html?tc=eml_cleartime">28.5 million common shares</a>, raising $1 billion in proceeds and garnering a valuation of over $10 billion valuation. Founded in India, Freshworks, now a San Mateo, California-based software company, builds customer management platforms that have <a href="https://www.businessinsider.com/former-atlassian-exec-jose-morales-freshworks-2020-10">gained the attention of clients</a> including Honda, Cisco, and American Express.Its business <a href="https://www.businessinsider.com/freshworks-new-cmo-stacey-epstein-growth-2021-3">boomed during the pandemic</a> as companies rushed to digitize most of their customer operations to cater to the growing demand of clients whose employees were mostly stuck at home as large swathes of the world shutdown, founder CEO and Girish Mathrubootham <a href="https://www.businessinsider.com/freshworks-ceo-huge-opportunity-to-disrupt-customer-service-market-2019-11" target="_blank" rel="noopener noreferrer">previously told Insider.</a>Freshworks aims to compete with software behemoth Salesforce as it tries to <a href="https://www.businessinsider.com/freshworks-new-cmo-stacey-epstein-growth-2021-3">disrupt the customer relationship management </a>market, Mathrubootham <a href="https://www.businessinsider.com/freshworks-ceo-huge-opportunity-to-disrupt-customer-service-market-2019-11" target="_blank" rel="noopener noreferrer">added.</a> Though Freshworks is based in the US, the majority of its employees are based in Chennai, India. It has other offices in 10 other locations, including London, Berlin, and Sydney.The idea of Freshworks was borne out of Mathrubootham's frustration with the <a href="https://www.businessinsider.com/freshworks-ceo-huge-opportunity-to-disrupt-customer-service-market-2019-11">lack of response from a moving company</a>, which damaged his television during the process in 2010. More than a decade later, he has grown his firm from just focusing on customer support to one that provides software for every customer interaction."We started in a 700 square foot warehouse in Chennai in 2010," Mathrubootham said in the <a href="https://sec.report/Document/0001628280-21-018866/0001628280-21-018866.txt">regulatory filing</a>. "We didn't plan nor expect to change the world. Our dreams came in increments, each building on the next and expanding our vision over time."Today, the company, among India's first unicorns - startups worth more than $1 billion - and is one of the country's best-known software-as-a-service firms.Morgan Stanley, JPMorgan, and Bank of America Securities acted as lead book-runners for the offering.

Freshworks jumps 36% in trading debut after pricing IPO at $36 per share

<ul><li><keyword id="1132603" type="COMPANY" weightage="20" keywordseo="Zendesk">Zendesk</keyword> has over 2,800 clients in India including Ola, Zomato, Shaadi.com, OLX, Vodafone, Airbnb and ITC Foods. </li><li>But the US-listed company will find big competition from the homegrown Zoho and Freshworks, both of which have also expanded to the US. </li><li>In an interview with Business Insider, Zendesk’s senior management discusses the company’s plans for India.</li></ul>The $9.6 billion Zendesk, the US-based <keyword id="169305" type="ORGANIZATION" weightage="20" keywordseo="customer-service">customer service</keyword> software company, is focussing on the India market now. Zendesk, which has also partnered with WhatsApp for business, also launched two new products globally, including India. First product being Gather, which is a platform where customers can engage with each other and company experts. The second one Sunshine Conversations, an API-based platform through which companies can interact with consumers through social media channels. Some of its clients include Uber, Lyft, Airbnb, and also DBS Bank. India’s new-age tech savvy companies and the thousands of small and medium enterprises also caught Zendesk’s fancy. But the US-listed company will find competition from the homegrown Zoho and Freshworks, both of which have also expanded to the US. Big plans for India The India market was initially clubbed with the overall APAC zone, until Zendesk saw an opportunity in India’s growing small businesses and established an India office in 2016. Having been around in India for three years now, Zendesk has over 2800 clients including the likes of Ola, Zomato, Shaadi.com, OLX, Vodafone, Airbnb and ITC Foods.. “We follow a methodology in the emerging markets. In the beginning, an entire market is is grouped together and then we make small bets. So we have been investing in building a brand and momentum in India. We are very happy with India contribution so far but we have great expectations,” Tom Keiser, chief operating officer, Zendesk told Business Insider at the recently concluded Zendesk Showcase in Singapore. When they started off, they had 1700 customers with just 5 people at work. Today, they have over 30 employees. Ola was one of their early clients. Today, they also have startups like Bounce, Drivezy subscribing to them. And somewhere Reliance Jio which led the unprecedented data growth in India also helped, informs KT Prasad, India head, Zendesk. Challenges and localization in India But of course, India comes with its challenges. “There is an extreme scale in India and almost every client you speak to, their aspiration is always to serve over a billion people. The challenge is always making sure that you give a cost effective solution for the whole market. But India is still so underserved, the middle class population is growing at such a fast rate and something that wasn’t a business a few years ago is a booming one today,” said Sandie Overtveld, VP Asia Pacific, Zendesk. So, they had to turn to localization. Zendesk also offers customer service in Hindi and is looking to offer in other dialects in the future. Social media is also driving change in India. “With the growth of social media, and the ease with which one can turn to one of the platforms and complaint about a product, makes customer service even more important,” said Overtveld. Competing with Zoho, Freshdesk Two Indian startups – Zoho and Freshdesk took over the <keyword id="200550" type="TECHNOLOGY" weightage="20" keywordseo="CRM">CRM</keyword> space and entered the US market. But in a fast evolving Indian market, local players have an advantage – they know the Indian consumer well. However, Zendesk believes that it has a clear value proposition that differentiates it. “It’s a very competitive space and while the competitors have broadened their services – we are completely focussed on the customer and customer service,” said Keiser. Zendesk is also innovating fast to stay in the game. “We are bringing the right value to the consumer. Four years ago, we had 2-3 products, today, we have over 8 products,” said Prasad. It is also deep into machine learning, big data with a team that is based out of Melbourne, Australia. “We are building a more robust set of capabilities for self service. Solutions can be served with commitment and an omni channel approach where everything comes together - voice, text, e-mail etc,” said Keiser.

US-listed Zendesk is betting big on India in spite of competition from homegrown Zoho, Freshworks

<ul><li>Riding on the tech and digital wave, startups in India are hiring for technical roles. </li><li>Check out the new jobs listed at Jio, Unacademy, Icertis, Freshworks, and more. </li><li>Check out all the news and headlines at <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>As the Indian startup ecosystem recovers rapidly from the COVID-19 pandemic, hirings are in full swing. With a focus on digital transformation and growing technological progress, startups in India are hiring for technical roles. According to Naukri.com’s hiring activity report from November, the top searched keywords on the Naukri platform are Java Developer, Manual Testing and Business Analyst. Meanwhile, the top cities in recruitment mode are Bengaluru (22%), Delhi (13%), Hyderabad (9%), Pune (9%) and Chennai (7%). Here’s a look at some of the interesting jobs listed in the startup sector Unacademy is hiring in full swing, from Senior Product Manager to Analyst for Consumer Insights Indian edtech unicorn Unacademy has multiple job listings open on LinkedIn. The startup, which is riding on the edtech wave in India, is looking to fill multiple roles like Senior Product Manager, Senior Executive - Consumer Insights, Lead - Product Security, Manager Taxation, among others. You can find the job listings and requirements <a href="https://www.linkedin.com/company/unacademy/jobs/">here</a>. Jio’s tech hiring is on Reliance Jio is hiring for multiple technology-driven roles. The digital platform is hiring across its Mumbai and Hyderabad offices for roles like Senior Data Scientist, Big Data Developer, Cloud Solution Architect, Senior Compliance Officer, among others. You can take a look at the listings and requirements <a href="https://www.linkedin.com/company/jio/jobs/">here</a> GPT-3 developers needed Top venture capitalist firm Lightspeed Partners’ India’s partner Hemant Mohapatra posted a rather interesting job requirement on Thursday morning. The VC posted a requirement for GPT-3 developers on Twitter. <div type="twitter" handle="MohapatraHemant" handlename="Hemant Mohapatra" image="http://pbs.twimg.com/profile_images/1259870866365693953/SenCprAA_normal.jpg" favoritecount="15" retweetcount="7" status="Looking for GPT-3 devs for technical lead roles - please DM if you are one / know someone. Remote OK! 🙏" createdat="1608175702000" id="1339412090717519873"></div> GPT-3 is Generative Pre-trained Transformer 3, the latest tech trend which has taken over the world. GPT-3 is an autoregressive language model that produces human-like text by using deep learning. Freshworks has multiple tech and non-tech openings Indian SaaS giant Freshworks has multiple openings listed across its US and India offices. The startup is looking for Product Managers, Engagement Managers, Community Marketing Specialists, Business Analysts and more. The startup is also looking to hire interns. You can check out all the openings <a href="https://www.linkedin.com/company/freshworks-inc/jobs/">here.</a> Icertis is looking to hire for tech and sales Another Indian <a href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms">SaaS unicorn Icertis </a>is hiring for multiple roles. The startup has openings for roles like Chief Alliance Officer, Director - Customer Advocacy, Senior Director - Product Manager, UX Architect and more. The startup is looking to hire for its India and US offices. You can check out the job listings <a href="https://www.linkedin.com/company/icertis/jobs/">here</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

From Unacademy to Jio and Freshworks – check out the hot new tech job openings in India

We made it to the middle of the week, friends. I'm Diamond Naga Siu, and I'm a pretty calm person. I love writing the newsletter, but wanting it to be perfect makes me quite stressed out and anxious sometimes.This unease is surprisingly common. Almost half of Gen Zers feel that way all or most of the time at work, according to a <a href="https://www.businessinsider.com/gen-z-feel-stressed-anxious-at-work-deloitte-survey-2023-5">new study from Deloitte</a>.My colleague <a href="https://www.businessinsider.com/author/sawdah-bhaimiya">Sawdah Bhaimiya</a> broke down the survey findings. And she highlighted how <a href="https://www.businessinsider.com/gen-z-feel-stressed-anxious-at-work-deloitte-survey-2023-5">Gen Zers and millennials are equally struggling to perform to their best abilities</a>.This is pretty bleak given that we <a href="https://www.businessinsider.com/gen-z-changing-america-shop-live-work-millennials-2023-2">still have full careers ahead of us</a>. So to prevent burnout, I try improving my mental health with work-life boundaries (which <a href="https://www.businessinsider.com/mark-cuban-gen-z-go-down-greatest-generation-mental-health-2022-9">Mark Cuban is super into</a>, by the way!)Now, let's dive into today's tech.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56" target="_blank" rel="noopener">here.</a><a href="https://www.businessinsider.com/microsoft-employees-blast-pay-morale-internal-messages-2023-5"></a>1. "Microsoft is currently a terrible place to work." Leaked messages revealed that employees are internally expressing their unhappiness over <a href="https://www.businessinsider.com/microsoft-wont-raise-salaries-for-full-time-employees-this-year-2023-5">pay cuts</a> and low morale. They're directly questioning executives through a variety of methods.<ul><li>Some upset employees have shared their grievances via internal messaging boards. Others have posed anonymous — and pretty pointed — questions during all-hands meetings.</li><li>"Why do they think it's appropriate to screw over their employees like this?" one employee asked. Another wondered what the leadership team planned to do about low morale, while adding that "denial is not a strategy."</li><li>My colleague <a href="https://www.businessinsider.com/author/ashley-stewart">Ashley Stewart</a> obtained a slew of leaked screenshots that show the internal ire at Microsoft.</li></ul><a href="https://www.businessinsider.com/microsoft-employees-blast-pay-morale-internal-messages-2023-5">Read their angry messages and questions here.</a>In other news:<a href="https://www.businessinsider.com/100-best-early-stage-seed-vc-investors-startups-2023-5"></a><div type="image" title="Text that says: Insider Seed 100, In partnership with Tribe Capital. Photos of Aileen Lee, Ameet Shah, Serena Williams, Dan Teran" height="1500" width="2000" msid="100475652" hostid="261" sizebytes="290256"></div>2. Insider's annual Seed 100. Serena Williams, Peter Thiel, and other major names made the list of top, early-stage investors. Each has a proven track record of picking startups that become successful. <a href="https://www.businessinsider.com/100-best-early-stage-seed-vc-investors-startups-2023-5">Get the full list here.</a>3. Apple will make hundreds of millions of dollars from ChatGPT. The iPhone maker isn't a leader in generative AI. But it'll still bring in big bucks from companies like OpenAI by taking 30% of whatever they reap from iOS apps. <a href="https://www.businessinsider.com/apple-chatgpt-ai-app-store-tax-openai-ios-2023-5">More on Apple's AI tax here.</a>4. How to make money on social media with as few as 2,300 followers. Dozens of influencers shared with Insider how they make money from TikTok, Instagram, and YouTube. <a href="https://www.businessinsider.com/how-much-influencers-get-paid-on-instagram-tiktok-youtube">Check out their top strategies and tips here.</a>5. Amazon employees are giving up their stock. Stock forfeiture is a hidden metric that reveals turnover rates at companies. It's very high for Amazon. <a href="https://www.businessinsider.com/amazons-employee-stock-poor-retention-tool-2023-5">More on the employee exodus index here.</a> Bonus: <a href="https://www.businessinsider.com/amazon-staff-plan-walk-off-job-return-to-office-report-2023-5">Amazon employees reportedly plan a one-day walkout in Seattle.</a>6. Small banks are booming with belief. After Silicon Valley Bank and First Republic both collapsed, many experts thought only big banks could survive. But many entrepreneurs are now forming brand new small banks. <a href="https://www.businessinsider.com/founders-new-banks-after-collapse-of-svb">Check out the optimistic trend here.</a>7. Twitter, TikTok, and Facebook/Meta are among the least reputable brands. Meanwhile, the study placed Apple and Amazon near the top. <a href="https://www.businessinsider.com/patagonia-costco-rank-most-reputable-brand-twitter-ftx-trump-lowest-2023-5">Get the list of most and least reputable brands here.</a> Bonus: <a href="https://www.businessinsider.com/tesla-plummets-50-spots-survey-musk-most-reputable-brands-ford-2023-5">Tesla plummeted 50 spots on the reputable brand list.</a>8. ChatGPT helps employees complete weeks-long coding tasks within days. Freshworks CEO Girish Mathrubootham said the company uses ChatGPT to write code. It's the latest example of how AI is making software development much more efficient. <a href="https://www.businessinsider.com/chatgpt-coding-openai-ceo-save-time-ai-jobs-software-2023-5">More on the rapidfire coding here.</a>Odds and ends:<a href="https://www.businessinsider.com/companies-software-legal-tricks-subscriptions-customers-money-pay-death-ownership-2023-5"></a><div type="image" title="Someone holding a phone in the center and all of their belongings disappearing" height="850" width="1133" msid="100475653" hostid="261" sizebytes="57134"></div>9. Say goodbye to ownership. Companies — think Peloton or Apple — now commonly hold repairs and paid software over people's heads. It prevents them from truly ever owning the devices. <a href="https://www.businessinsider.com/companies-software-legal-tricks-subscriptions-customers-money-pay-death-ownership-2023-5">More on the growing trend here.</a>10. The 15 cheapest US cities. These cities (like South Bend, Indiana and Greenville, South Carolina) sit at the intersection of quality and affordability. They boast hiking trails, great schools, and other urban amenities. <a href="https://www.businessinsider.com/cheapest-most-affordable-cities-in-us-places-to-live-2023-5">Get the full list of cities here.</a>What we're watching today:<ul><li>Sony is hosting its <a href="https://www.youtube.com/watch?v=e9z0atV8VDk" target="_blank" rel="noopener">PlayStation Showcase</a> today. The event will highlight a variety of games currently in development around the world.</li><li>South Korea is launching its <a href="https://www.kari.re.kr/eng.do" target="_blank" rel="noopener">first commercial-grade satellite</a>. It's called the KSLV-2 and carries NEXTSat 2 technology.</li><li><a href="https://www.spacex.com/launches/mission/?missionId=ARABSAT-BADR-8" target="_blank" rel="noopener">SpaceX is launching a Falcon 9 rocket</a>. It'll carry the Badr 8 satellite for Saudi Arabia.</li><li>Quarterly earnings for Nvidia, Snowflake, and other companies. <a href="https://markets.businessinsider.com/earnings-calendar">Keep up with earnings here</a>.</li><li>Happy birthday, Bob Dylan! Hope you find <a href="https://www.youtube.com/watch?v=-gsDBuHwqbM" target="_blank" rel="noopener">Shelter from the Storm</a>.</li></ul>Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email <a href="mailto:dsiu@insider.com" target="_blank" rel="noopener">dsiu@insider.com</a> or tweet <a href="http://www.twitter.com/diamondnagasiu" target="_blank" rel="noopener">@diamondnagasiu</a>) Edited by Alistair Barr (tweet <a href="https://twitter.com/alistairmbarr" target="_blank" rel="noopener">@alistairmbarr</a>) in San Francisco and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock" target="_blank" rel="noopener">@hallam_bullock</a>) in London.

10 Things in Tech: How to make money on social media, Apple’s AI tax, and ChatGPT helps employees code faster

<ul><li> <keyword id="733500" type="General" weightage="80" keywordseo="accel" source="Orion">Accel</keyword>’s accelerator programme has pivoted to focus on two themes for early stage startups as it believes the opportunities are large in India and outside.</li><li> So far, <keyword id="6355999" type="General" weightage="60" keywordseo="ai" source="Orion">AI</keyword> has been used to analyse and predict consumer behaviour, but <keyword id="733500" type="General" weightage="80" keywordseo="accel" source="Orion">Accel</keyword> expects new startups that will help redefine the entire customer journey using <keyword id="6355999" type="General" weightage="60" keywordseo="ai" source="Orion">AI</keyword>.</li><li>If the economy has to double in the next ten years, then manufacturing will play a big role. </li></ul> As the third largest startup ecosystem in the world, India is home to more than 90,000 startups at the start of 2023. But the one question on top of everyone’s mind is: Where will the next Flipkart or Swiggy come from? With the era of easy money gone, the entire ecosystem – entrepreneurs, angel investors along with venture/private equity funds – are more interested in business models and path to profitability than they were ever before. Accel India, a leading venture capital firm that works with founders from seed to scale stages, has identified two key themes – AI and Industry 5.0 – as their next big bets. Accel should know this because the firm has invested very early on in startups like Flipkart, Swiggy, Freshworks and Zetwerk. The global venture firm is taking a structured approach to pursue opportunities that it believes will be very big in the next seven to ten years. Accel’s accelerator programme, Atoms 3.0, which it launched in 2021 has also pivoted from a horizontal programme to a thematic one. Says Barath Shankar Subramanian, partner at Accel, “Both these are here and now opportunities. Atoms gives us that early window into identifying some of those opportunities that will be relevant 7-10 years down the line because it is an early stage programme.” Accel launched its Atoms 3.0 in 2020 and so far two of its cohorts have raised $160 mn across 24 startups. In its third edition, the programe has been tweaked to focus on AI and Industry 5.0. This has been done after taking feedback from the entire ecosystem such that the programme could meet the needs of founders. Both these themes are here and now opportunities and the Atoms 3.0 gives the venture firm an early window into these opportunities that would become big 7-10 years down the line. Accel is not wrong in its choice of themes as both have immense potential. Since November 2022, generative AI (artificial intelligence) has touched the lives of students, elderly and consumers in many different ways. While students can get answers to their questions late into the night, stock market traders are asking AI powered astrology apps on what the stars foretell. Beyond the fun aspects, AI will transform B2C platforms and their interfaces. So far, AI has been used to analyse and predict consumer behaviour, but Accel expects new startups that will help redefine the entire customer journey using AI. In its blog, Seed to Scale, Accel says that it anticipates the birth of transformative consumer startups redefining how businesses can cater to both consumer needs &amp; desires. Manufacturing – the other theme that Accel is betting on – is already the talk of town. Accel has already made investments in ten companies in the Industry 5.0 space, with Zetwerk and Detect Technologies being its most successful bets. Explains Subramanian, “If the economy has to double in the next ten years, then manufacturing will play a big role. There are a lot of tailwinds to why manufacturing will take off in India. These opportunities will be both brownfield and greenfield. Because of what has happened in India on the digital side over the last ten years, we are seeing that there is a market and the proxy for that is looking at digital transformation spending. The new age greenfield manufacturing facilities that will have to focus on digital from day one. These tailwinds are at play.” The VC firm is certain that manufacturing in India is a long-term trend and both existing manufacturing companies and new age ones will have to digitise their operations. What the Atoms Programme does is to help the new startups attain scale much faster as it has thanks to the learnings they have from the earlier investments. Accel now does not need to reinvent the wheel as its Atoms 3.0 is customised for founders in India. Adds Subramanian, “A lot of thought goes into a new vertical since we are still looking for the next large company coming out of India. The next Flipkart and Swiggy will come from AI or Industry 5.0.” “While many in the industry see Industry 5.0 as the SaaS for manufacturing, Subramanian says that while it may look like that but it is not. The next wave of companies in this space will be more enterprise-led and solutions will be co-created with large companies. Large enterprises in manufacturing spaces outside India have been slower to move as they are dealing with legacy systems. There is an opportunity in India here and now, which can later be taken outside India as well over time”, Subramanian adds. Accel has categorised the opportunity into three baskets – people, processes and machines – and any opportunity that interjects one of these or a combination of these is 5.0 for Accel. One of its portfolio companies is a good example of what startups can do in the space without actually setting up factories. Detect Technologies partners with the companies to reduce safety violations on a consistent basis. In the past, there would be cameras and people would monitor it manually, but this process can be machine-led and companies are willing to pay for it. Going forward, Accel is of the view that real businesses that make money will come from these verticals. Accel has five focused verticals – consumer, B2B, SaaS, fintech and digital health. Largely, everything the VC firm has done fits into these categories. It’s philosophy too has not changed, which is to catch startups young and to stay with them for the next ten years or so. Accel’s past record shows that it has managed to identify the right themes ahead of others. Its Fund II was largely focused on horizontal marketplaces, while Fund III (2012) was about SaaS companies. Its Fund IV took bets on consumer services startups like Swiggy and Urban Company, while Find V was B2B marketplaces. Now Fund VI is doubling down on B2B marketplaces and horizontal SaaS opportunities. “At the simplest level, we work on global themes and then we double down on it if we see India is ahead of that trend,” adds Subramanian.

The next Flipkart or Swiggy will come from AI or Industry 5.0, says Accel’s Barath Subramanian

Equity benchmark <keyword id="6484188" type="General" weightage="20" keywordseo="Sensex" source="Orion">Sensex</keyword> rallied over 700 points in early trade on Wednesday, tracking gains in index majors Infosys, Reliance Industries and ICICI Bank ahead of the <keyword id="6354335" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="Orion">Reserve Bank of India</keyword>'s monetary policy outcome. According to experts, markets bulls are enthused by a positive sentiment in global markets after top US public health expert Dr Antony Fauci observed that the Omicron variant is unlikely to be more severe than the Delta variant, removing market concern regarding the economic impact of the new variant. The 30-share index was trading 729.05 points or 1.26 per cent higher at 58,362.70 in initial deals. Similarly, the <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword> rose 202.15 points or 1.18 per cent to 17,378.85. HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Infosys, Bharti Airtel, Tech Mahindra, <keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword>, Reliance Industries and ICICI Bank. On the other hand, <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword> was the sole laggard. In the previous session, the 30-share equity benchmark ended 886.51 points or 1.56 per cent higher at 57,633.65, and Nifty rallied 264.45 points or 1.56 per cent to 17,176.70. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,584.97 crore on Tuesday, as per exchange data. The Reserve Bank of India is scheduled to announce the outcome of its bi-monthly Monetary Policy Review at 1000 hours. The RBI's policy announcement is unlikely to be market-moving since the Monetary Policy Committee (MPC) is likely to retain the status quo on policy stance and rates, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. A 10 per cent correction from the peak in a raging bull market provides good buying opportunities, particularly when the global equity backdrop is 'risk-on.' This favourable setting continues with the strong rally in the US market yesterday, he stated. However, he noted that since FIIs continue to be in the sell mode, markets may come under selling pressure at higher levels. Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo were trading with significant gains in mid-session deals, while Hong Kong was in the red. Stock exchanges in the US too rallied in the overnight session. Meanwhile, international oil benchmark Brent crude fell 0.42 per cent to USD 75.12 per barrel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shriram-properties-limited-ipo-open-today-all-you-need-to-know/articleshow/88145471.cms">Shriram Properties Limited IPO open today — All you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-you-can-check-tega-industries-ipo-allotment-status/articleshow/88145164.cms">Here is how you can check Tega Industries IPO allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zoho-freshworks-and-top-indian-saas-companies-have-given-500-entrepreneurs-to-the-indian-startup-ecosystem/articleshow/88145310.cms">Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem</a>

Sensex rallies over 700 points in early trade; Nifty tops 17,350 — HCL Tech, Infosys, Bharti Airtel, Tech Mahindra, L&T, Reliance Industries and ICICI Bank

You Searched For "freshworks us" and got 11 results

Freshworks IPO — 500 crorepatis, $12 billion market cap and more that emerged from India’s first SaaS listing at Nasdaq

Kritti Bhalla

Landmark moment for this Rajinikanth fan’s SaaS startup on listing at US exchange

Bhakti Makwana

WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat

Kritti Bhalla

The success story of India’s first SaaS company to be listed in Nasdaq

Kritti Bhalla

Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years

Rounak Jain

Freshworks jumps 36% in trading debut after pricing IPO at $36 per share

Isabelle Lee

US-listed Zendesk is betting big on India in spite of competition from homegrown Zoho, Freshworks

Sanchita Dash

From Unacademy to Jio and Freshworks – check out the hot new tech job openings in India

BI India Bureau

10 Things in Tech: How to make money on social media, Apple’s AI tax, and ChatGPT helps employees code faster

Diamond Naga Siu

The next Flipkart or Swiggy will come from AI or Industry 5.0, says Accel’s Barath Subramanian

Malini Bhupta

Sensex rallies over 700 points in early trade; Nifty tops 17,350 — HCL Tech, Infosys, Bharti Airtel, Tech Mahindra, L&T, Reliance Industries and ICICI Bank

PTI

Popular Keywords

Buying Guides