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<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

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy of FreshworksFreshworks CEO and co-founder Girish Mathrubootham now runs one of India's first unicorns.</div></div></div><ul><li>Freshworks, an India-based sales and customer service software company, announced a $100 million funding round at a $1.5 billion valuation.</li><li>This makes it one of India's first unicorns - and the country's only unicorn in the <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">enterprise</keyword> software space.</li><li>The funding was led by Accel and Sequoia with participation from Google's CapitalG.</li></ul>Like many startup founders, the trajectory of Girish Mathrubootham's career changed because of an aha moment. The Chennai, India-based Mathrubootham had just moved back home after living some time in Austin, Texas. A television he shipped during his move arrived broken, and he wasn't having any luck getting through to customer service to get reimbursed for his troubles.As these stories go, Mathrubootham knew there had to be a better way to get customers in touch with the companies that serve them. So he co-founded Freshworks - then known as Freshdesk - to do just that."When we started Freshworks in 2010, we were a single product company with a goal of offering better, easier-to-use customer service software than what was in the market," Mathrubootham said in a statement.On Tuesday, Freshworks announced $100 million in funding from Silicon Valley investors Accel and Sequoia, with participation from Google's CapitalG. The company is now valued at $1.5 billion, making it the first enterprise software unicorn to ever come out of India, according to the company.And in June, the company <a href="https://markets.businessinsider.com/news/stocks/freshworks-reaches-100-million-in-annual-recurring-revenue-unveils-freshworks-360-1027315582">announced</a> another milestone: $100 million in annual recurring revenue, thanks to customers like Honda and Cisco. While India has deep connections to the US tech industry, so far it has yielded very few globally successful startups. One major exception to that is Flipkart, an e-commerce company <a href="https://markets.businessinsider.com/news/stocks/walmarts-stock-price-flipkart-acquisition-has-one-analyst-questioning-whether-the-company-can-fulfill-a-big-promise-it-just-made-to-shareholders-2018-5-1025004268">which sold to Walmart</a> for $16 billion in May. But Freshworks investors think the 8-year-old startup - which positions itself as a low-cost alternative to customer service, sales and marketing platforms such as Salesforce and ServiceNow - could prove an exception to the rule."Sequoia first backed Freshworks in 2016 and didn't hesitate for a moment to double down on the investment," Sequoia investor Mohit Bhatnagar said in a statement. "Girish and his team have worked relentlessly to build Freshworks into a leading SaaS company from India - one that is truly global with customers across 127 countries." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/cigna-ceo-explains-the-problem-with-healthcare-in-america-2018-7">Cigna's CEO says that the problem with healthcare in America has nothing to do with employers</a></h3> <div> </div> </div>

A Salesforce competitor just raised $100 million from Silicon Valley investors to become India's first enterprise software unicorn

<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

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Freshwork's CEO Girish Mathrubootham sees a massive opportunity to disrupt the customer engagement market, and has created a company that provides software for all the interactions a company might have with a customer. </li><li>"Customers are used to having a platform and then integrating all these tools. So today if you walk into any company, the <a href="https://www.businessinsider.com/category/crm">CRM</a> stack is unwieldy...so what we believe is the exciting opportunity of the future is building the CRM platform of the future," Mathrubootham told Business Insider. </li><li>The company just raised $150 million in Series H funding, in a round led by Accel, Sequoia, and CapitalG, to continue growing. </li><li>Sameer Gandhi, a partner at Accel said Freshworks offers a unique product that helps businesses manage every step of interaction with a customer in one platform, as opposed to many, and offers a use-friendly way to do so. </li><li>Freshworks has 250,000 customers globally and many are small to medium sized businesses or mid-market businesses.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymary">Click here for more BI Prime stories</a>.</li></ul>In 2010, Freshwork's CEO Girish Mathrubootham saw a massive opportunity to change the way companies do customer support. He was moving back to India from Austin, Texas in 2009, where he had been working as an engineer for Zoho. During the move his TV was damaged by the moving company, and he had no luck getting a response or solution from the moving company. At that point he said he got frustrated and shared his experience in an online forum. That post changed everything. He noticed how engaged the online community was in solving the issue - enough that the moving company eventually reimbursed him for his damaged TV. "That's when I realized something was changing in the world of customer support, where I realized that as a customer I had a newfound power to take on a company," Mathrubootham said. He realized he had to capitalize on this opportunity and started a customer support company called Freshdesk in 2010.In the 10 years since, Mathrubootham has grown the company from its customer support focus, which India is a hub for, into a platform that provides software to help manage every interaction a customer has with a company, from marketing to customer support. The company is now called Freshworks and is headquartered in San Mateo, California, although the majority of its employees are still based in India, with offices in 10 other locations, including London, Berlin, and Sydney.His goal with Freshworks is to create a new customer relationship management platform that includes everything needed for a company to interact with a customer from beginning to end. This includes marketing and sales automation, messaging and email campaign management, among other things, to help manage relationships with customers. He said he saw a need for a streamlined, user-friendly tool for companies to be able to do this that didn't yet exist in the market."Customers are used to having a platform and then integrating all these tools. So today if you walk into any company, the CRM stack is unwieldy...so what we believe is the exciting opportunity of the future is building the CRM platform of the future," Mathrubootham told Business Insider. The company just raised $150 million in Series H funding, led by existing investors Sequoia Capital, CapitalG, and Accel, to continue growing. This new funding gives Freshworks a valuation of $3.5 billion, as it targets a potential IPO next year, although it doesn't have a set timeline yet, Mathrubootham said. Accel's India arm gave Freshworks its seed funding of $1 million in 2011. <h2>Salesforce is a giant, but there's room for competition</h2>In the CRM market, <a href="https://www.businessinsider.com/category/salesforce">Salesforce</a> is the big behemoth, but Mathrubootham thinks there is room to disrupt. "It's been almost 20 years since anything new happened in CRM, so there is room for a technology refresh," he said. He added that he thinks there is a better solution where customers don't need to integrate services on top of a "bare bones" CRM platform. Sameer Gandhi, a partner at Accel who led this funding round, agreed, and said that he thinks the market is big enough for many different options, and it is not a "winner take all" market."We really think Freshworks can be incredibly successful in this market, and it doesn't have to be at the expense of a Salesforce. Frankly there's a lot of other vendors out there too," Gandhi told Business Insider. He said what drew Accel to Freshworks was that it was doing something unique in the CRM space. Mathrubootham had created a tool that was simple and intuitive to use, in a way that other products in the sector weren't. And the product is well targeted toward the type of small to medium sized businesses that mainly use the platform. "It's a really unique approach that you'd have to stitch together with a bunch of different kinds of solutions in other cases," Gandhi said. Freshworks has 250,000 customers globally. Many of these are small to medium sized businesses or mid-market businesses. However, Gandhi said the product is also popular with smaller groups within large businesses. Some larger companies that use the product are Sotheby's, Bridgestone, DISH, Sling, and Vonage.Mathrubootham said the company plans to use the money raised in this round to continue growing before looking towards an IPO.

The CEO of Freshworks had an idea 10 years ago when his TV was damaged by movers. Now his startup is worth $3.5 billion and is threatening Salesforce.

<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="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="1603355" type="General" weightage="20" keywordseo="murali-divi" source="Orion">Murali Divi</keyword> is the founder of <keyword id="1515398" type="General" weightage="100" keywordseo="divi" source="Orion">Divi</keyword>’s Labs, one of the top three manufacturers of active pharmaceutical ingredients (API).</li><li>Divi went to the US with $7 in his hands and came back with $40,000, while earning $65,000 a year working as a pharmacist.</li><li>In the last one year, Divi’s wealth has surged by more than two times to over $10 billion.</li><li>Find out what the future holds for Murali Divi and his company, Divi’s Labs.</li></ul>From the small town of Machilipatnam in Andhra Pradesh to founding a company with a market capitalisation of nearly ₹1.3 lakh crore (over $17 billion), Murali Divi has come a long way to find himself on the Hurun India Rich List 2021. According to the latest update to the Hurun list, Murali Divi with a wealth of ₹79,000 crore is the 14th richest person in India, leaving behind the old money magnates like the Wadias, Mistrys, Godrejs and Agarwals. What makes it even better is the fact that Divi’s father managed the family of 14 on a meagre pension of ₹10,000 per month. Indeed, nothing quite describes the emergence of small-town India as one of the drivers of the country’s growth as the stories of people like Murali Divi or <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham</a>, whose father was a bank officer. <div type="image" title="Divi&amp;#39;s" msid="86750084" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs was founded in 1990 and it went public in 2003&amp;lt;/p&amp;gt;"></div> Today, Divi’s Labs commands a market capitalisation of ₹1.28 lakh crore – almost three times of what it was on March 23, 2020, when India went into a nationwide lockdown due to the COVID-19 pandemic. On October 4, the stock added another 10% to its value after it was chosen as the authorised manufacturer for Merck and Ridgeback’s oral antiviral Molnupiravir, which is under trial, and the results so far show that it can reduce the need for hospitalisation for patients with <a href="https://www.merck.com/news/merck-and-ridgebacks-investigational-oral-antiviral-molnupiravir-reduced-the-risk-of-hospitalization-or-death-by-approximately-50-percent-compared-to-placebo-for-patients-with-mild-or-moderat/">a mild or moderate case of COVID-19</a>. <div type="image" title="Divi&amp;#39;s Labs 23_03_20 to 04_10_21." msid="86749896" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs share price since the Covid-19 pandemic broke out in India&amp;lt;/p&amp;gt;"></div> What sent the share price of Divi’s Labs in another orbit compared to other companies is its effective utilisation of capital and expanding supply of APIs to US pharma companies in 2020, even as the world struggled to cope up with China shutting off the supply chain for the pharma sector. Since the pandemic, Murali Divi has seen his wealth more than double, from a little under $4 billion at the beginning of 2020 to over $10 billion now. But what does the future hold for this billionaire scientist’s company, Divi’s Labs? Here’s a quick look at the risks for the company and what its strengths are: <cmsannotation type="cmsannotation" annotationid="Pressure on drug prices in US" comment="subhead" text="Pressure on drug prices in US">Pressure on drug prices in US</cmsannotation> <div type="image" title="Divi&amp;#39;s research" msid="86750068" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs&amp;#39; research centre&amp;lt;/p&amp;gt;"></div> The US government has been forcing prices of medicines down for a few years now by approving more generic versions. This is likely to continue and may even get worse, according to analysts at Ambit Capital. But that is not a problem unique to Divi’s. Other companies like Sun Pharma, Lupin, Dr Reddy’s etc. have also been facing similar pricing pressure. <cmsannotation type="cmsannotation" annotationid="Resumption of physical inspections of plants" comment="subhead" text="Resumption of physical inspections of plants">Resumption of physical inspections of plants</cmsannotation> The US Federal Drug Administration (FDA) had eased its watch on the quality of drugs exported from India in the wake of the pandemic. However, the hawks at the USFDA may return to their old ways of surprise inspections at manufacturing plants and that’s a risk for all companies. The increased compliance burden could prove to be a double-edged sword for pharma companies, including Divi’s Labs, according to Ambit Capital. <cmsannotation type="cmsannotation" annotationid="Proactive capacity scale-up and technology upgrades" comment="subhead" text="Proactive capacity scale-up and technology upgrades">Proactive capacity scale-up and technology upgrades</cmsannotation> <div type="image" title="Divi&amp;#39;s lab" msid="86750058" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs&amp;#39; research and development centre&amp;lt;/p&amp;gt;"></div> One of the secrets of Divi’s rise to be the second biggest drug maker in the country, by market capitalisation, is its ability to scale up capacity and cut costs using technology. “It is still supplying legacy products, showing both its strength and continuing demand in these products. Its next leg of growth is expected to come from 16 new molecules it is currently working on,” said Motilal Oswal in its September report, which said that the shares of Divi’s Labs could go up to ₹5,750, another 10%, in the next one year. <cmsannotation type="cmsannotation" annotationid="Strong partnerships with innovators" comment="subhead" text="Strong partnerships with innovators">Strong partnerships with innovators</cmsannotation> The report further adds that Divi’s Labs has a strong relationship with big pharma companies, including six out of the top ten innovators including Merck, Pfizer, and GlaxoSmithKline. “Divi can supply both clinical quantities and at large commercial scale, thus supporting innovators from API research to commercial manufacturing,” says the report. <cmsannotation type="cmsannotation" annotationid="The scientist behind the billionaire" comment="subhead" text="The scientist behind the billionaire">The scientist behind the billionaire</cmsannotation> To make things worse, Divi failed his intermediate exams (the equivalent of higher secondary) twice due to weak English. However, instead of giving up and resigning himself to his failures, Divi doubled down and grabbed the opportunity to go to the US as a pharmacist instead of becoming a chemist like his elder brothers. <div type="image" title="Murali Divi" msid="86750146" hostid="261" caption="&amp;lt;p&amp;gt;Murali Divi&amp;lt;/p&amp;gt;"></div> When Divi left India for the states in 1976, he was 25 years old with $7 in his hands, according to <a href="https://www.forbesindia.com/article/india-rich-list-2014/murali-divi-the-accidental-chemist/38771/1">Forbes India</a>. From there, he went on to draw a salary of $65,000 a year at US companies like Trinity Chemical and Fike Chemical. He would soon come back to India with his wife and children with $40,000 and no plans for the future. He went with the flow and in 1984, teamed up with Kallam Anji Reddy to build Cheminor, which would later (in 2000) be merged with Dr. Reddy’s Laboratories, also co-founded by Reddy. Six years later, Divi founded Divi’s Laboratories, his own pharma company. Headquartered in Hyderabad, the company makes active pharmaceutical ingredients (API) and intermediates. APIs are the key inputs that go into making a drug. From nowhere in 1990, Divi’s Labs is now one of the top three API manufacturers in the world. 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/india/news/anil-ambani-sachin-tendulkar-kiran-shaw-and-other-indians-named-in-the-pandora-papers-leak/articleshow/86745435.cms">Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-has-raised-1-3-billion-this-year-to-so-far-in-pursuit-of-its-american-dream/articleshow/86745427.cms">Byju’s has raised $1.3 billion this year to so far in pursuit of its American dream</a>

Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic

<cmsannotation type="cmsannotation" annotationid="summary" comment="summary" text="As the onset of the new year beckons us towards new beginnings, Business Insider India invites you to experience our innovations — a showcase of new editorial initiatives, products and brand partnerships from 2022 which have helped leading global companies engage with our select audience. These activities have established the foundation for our unique editorial mission around sustainability, personal finance, and enterprise tech which delivered sharp, incisive and compelling content to our readers. This year, we look forward to collaborating with you on your brand journey and help you emulate the same success that our longstanding partners have achieved.">As the onset of the new year beckons us towards new beginnings, Business Insider India invites you to experience our innovations — a showcase of new editorial initiatives, products and brand partnerships from 2022 which have helped leading global companies engage with our select audience. These activities have established the foundation for our unique editorial mission around sustainability, personal finance, and enterprise tech which delivered sharp, incisive and compelling content to our readers. This year, we look forward to collaborating with you on your brand journey and help you emulate the same success that our longstanding partners have achieved.</cmsannotation> <cmsannotation type="cmsannotation" annotationid="summary" comment="summary" text="Dive in to discover our success stories and drop us a line to harness the very best of Business Insider India’s creative approaches.">Dive in to discover our success stories and drop us a line to harness the very best of Business Insider India’s creative approaches.</cmsannotation> <bulletContentEmbed name="Sustainability Insider" columns="1"><bulletContentHeading name="Sustainability Insider_head"> <div type="image" title="Sustainability Insider" msid="97128329" hostid="261" caption="&amp;lt;p&amp;gt;Sustainability Insider&amp;lt;/p&amp;gt;"></div></columnHeadThumb><keyword id="14107500" type="General" weightage="20" keywordseo="Sustainability-Insider" source="Orion">Sustainability Insider</keyword></columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Sustainability Insider_body"><bulletContentRow name="Sustainability Insider_1673794911834810"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">2023 and beyond… Environment, Social and Governance (ESG) will take the centre stage. Our ESG focussed programming segment - Sustainability Insider sharpens the focus on people, companies and ideas which are making this world a better place. Sustainability Insider’s marquee event, the <keyword id="9906589" type="General" weightage="20" keywordseo="World-EV-Day" source="Orion">World EV Day</keyword> webinar in September showcased industry veterans and thought leaders through and engaged large audiences across the website and social channels. Read more <a href="https://www.businessinsider.in/sustainability">here</a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[right]]></payload></bulletContentEmbed> <bulletContentEmbed name="left_image" columns="1"><bulletContentHeading name="left_image_head"> <div type="image" title="EV_IG (1)" msid="96686566" hostid="261"></div></columnHeadThumb>SUPERCHARGING WORLD EV DAY</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="left_image_body"><bulletContentRow name="left_image_8476256729899678"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Business Insider India September 2022 curated a special episode on the World EV Day. The Virtual panel, shifting Gears; Evaluating the Road to Sustainability featured Dr. Raji Mathi, Director, Automative Research Association of India (ARAI); Anmol Jaggi, CEO, BluSmart Mobility; Suhas Rajkumar, Founder and CEO, Simple Energy; and Anshul Khandelwal, Chief Marketing &amp; Revenue Officer, Ola Group. The group highlighted the challenges and opportunities of fast-tracking EV adoption in India. Watch the feature <a href="https://www.businessinsider.in/sustainability/article/sustainability-forum-shifting-gears-evaluating-the-road-to-sustainable-mobility/articleshow/94248881.cms">here</a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[left]]></payload></bulletContentEmbed> <bulletContentEmbed name="left_image" columns="1"><bulletContentHeading name="left_image_head"><div type="image" title="Quiz Image" msid="96687183" hostid="261"></div></columnHeadThumb>PRODUCT INNOVATION INTERACTIVE QUIZ</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="left_image_body"><bulletContentRow name="left_image_2671779128491774"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Interactivity came to the fore as Business as Business Insider India launched the interactive quiz, drawing audiences to engage with the platform and test their acumen on all things sustainability. you can also participate in the quiz and see how you stack up when it comes to sustainability. Click <a href="https://www.businessinsider.in/sustainability/news/lok-sabha-approves-energy-conservation-bill-to-accelerate-climate-action-opens-multi-billion-dollar-carbon-market/articleshow/93479684.cms">here</a> to take the quiz</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[left]]></payload></bulletContentEmbed> <bulletContentEmbed name="right_image" columns="1"><bulletContentHeading name="right_image_head"> <div type="image" title="saasscions_roundup" msid="96702847" hostid="261"></div></columnHeadThumb>MARQUEE BRAND INNOVATION VIA INSIDER STODIOS-</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="right_image_body"><bulletContentRow name="right_image_6519875174873057"><bulletContentRowHeading><bulletContentRowHead col="1">SAAS SCIONS FOR AWS</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Business Insider India partnered with AWS to custom create SaaS Scions, a content IP six-part series featuring visionaries in the SaaS space who have catalysed the SaaS domain globally. The series features the country's best known SaaS founders in conversation with AWS' leaders and shines a spotlight on India's growth story while capturing the thinking and vision of India's SaaS scions. Featured guests include Girish Mathrubootham, Jay Vijayan, Sandeep Gupta and Beerud Sheth.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[right]]></payload></bulletContentEmbed> <bulletContentEmbed name="Money Insider | Season 2 | COMING SOON on Business Insider" columns="1"><bulletContentHeading name="Money Insider | Season 2 | COMING SOON on Business Insider_head"> <div type="image" title="Money Insider" msid="97127935" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;sup&amp;gt;&amp;lt;/sup&amp;gt;Money Insider&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Money Insider | Season 2 | COMING SOON on Business Insider</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Money Insider | Season 2 | COMING SOON on Business Insider_body"><bulletContentRow name="Money Insider | Season 2 | COMING SOON on Business Insider_8003104820832338"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The best of financial insights from the country’s most creative voices! Business Insider India’s Money Insider brings together the country’s leading ‘Fin-fluencers’ who are heralding a new beginning in the world of financial literacy. 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<ul><li>Metal and mining magnate <keyword id="6354819" type="General" weightage="100" keywordseo="Anil-Agarwal" source="Orion">Anil Agarwal</keyword> has announced investments of ₹1.8 lakh crore in the past one week.</li><li>After building his fortune with metals, <keyword id="781" type="General" weightage="80" keywordseo="agarwal" source="Orion">Agarwal</keyword> is now turning his gaze to semiconductor chips, a key to the modern world’s lifestyle.</li><li>Here’s the story of a boy from Bihar who made it, knowing only two English words – “yes” and “no”.</li></ul> Metal and mining magnate Anil Agarwal is in the news yet again – this time around, it’s for announcing an investment of ₹1.54 lakh crore to set up a semiconductor chipset manufacturing plant in Gujarat, in partnership with Taiwan-based Foxconn. In the same breath, Agarwal also announced an investment of ₹25,000 crore in Odisha – a key investment for <keyword id="28423" type="General" weightage="20" keywordseo="Vedanta" source="Orion">Vedanta</keyword> – topping up his initial investment of ₹80,000 crore in the coastal state. Clearly, money’s not in short supply for Agarwal, but it wasn’t always the case for the man who hails from Bihar and knew only two English words – “yes” and “no” – when he came to Mumbai in the 1970s. Over the past five decades and then some, Agarwal built a metal and mining empire and got the first Indian company listed on the London Stock Exchange – Vedanta. So how did a boy from Bihar who knew the two most basic English words go onto list his company in the heart of the English world? Here’s a peek into how. <div type="Article" hostid="261" msid="86453777" title="Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Starting small" comment="subhead" text="Starting small">Starting small</cmsannotation> Agarwal was a teenager when he joined his father’s business of aluminum conductors and scrap metal trading. Born in a marwadi family, taking up his family business might seem like such an obvious – yet stereotypical – thing to do. While his father’s business was not where he would make money, it would become a founding block of his future success. <cmsannotation type="cmsannotation" annotationid="City of dreams calling" comment="subhead" text="City of dreams calling">City of dreams calling</cmsannotation> At 19, Agarwal left the comfort of his family home and Patna, leaving for the hustle of Bombay. It would take two more decades for the city that made him rich to be renamed to Mumbai, and a lot would change in Agarwal’s life in this time. Agarwal never went to a college, let alone a business school. But within a small time, he acquired his first company which was on the brink of bankruptcy. Unsurprisingly, it was a copper company named Shamsher Sterling Corporation. He cobbled up ₹16 lakh – a handsome amount for the 1970s – from his own savings, friends and family. Agarwal still ran his primary business of trading in scrap metal – for the next 10 years, he ran both side by side. In 1986, he created Sterlite Industries which would go on to become the largest producer of copper in India, but its beginnings were earnest and small. The company launched an IPO in 1988 to finance its polythene-insulated jelly filled copper telephone cables plant. Seven years later, Agarwal acquired an 83% stake in Madras Aluminium, a ‘sick’ company, for ₹55 crore. This would set the tone for Agarwal’s business strategies over the next few decades, wherein he would identify undervalued assets and turn them around into huge revenue streams. For instance, Agarwal acquired a mine in Tasmania for a paltry sum of $2.5 million and turned it into a $100 million annual revenue stream. <div type="Article" hostid="261" msid="91829090" title="Understanding Gautam Adani’s rise: a story on how to generate wealth via hope, equity and of course debt" mstype="2" mssubtype="0"></div> He also acquired Hindustan Zinc, another PSU sold by the government as part of its divestment program, in 2002. At the time of acquisition, it was said that the company had a reserve for five years, and a manufacturing capacity of 1.5 lakh tonnes of zinc per annum. However, now the company is still operational and has expanded its capacity to 1 million tonnes. Agarwal<a href="https://www.bcg.com/publications/2014/anil-agarwal-simplicity-determination-vedanta-resources"> said</a> in an interview that the company has reserves for another 40 years. <cmsannotation type="cmsannotation" annotationid="From an 8x9 feet rented office in Mumbai to London" comment="subhead" text="From an 8x9 feet rented office in Mumbai to London">From an 8x9 feet rented office in Mumbai to London</cmsannotation> When Agarwal arrived in Mumbai, all he had was a tiffin box and bedding. He shared a room with seven other people for ₹21. Agarwal rented out an 8x9 feet office to buy and sell scrap metal. Following decades of hard work, sharp business acumen and acquiring undervalued assets, it was time for Vedanta to go global. But what triggered Vedanta’s listing at the London Stock Exchange was Agarwal’s involvement with Harshad Mehta – in a bid to make a comeback, Mehta drove up the prices of three stocks – Agarwal’s Sterlite, and Videocon and BPL. “My wife, Kiran, thought I was crazy when I told her that we are moving to London overnight. She went to our daughter Priya’s school and asked them for a 6-month leave because she was sure we would be back by then,” Agarwal shared in a note. Agarwal reached the English shores and got Vedanta Resources listed on the London Stock Exchange (LSE) in 2003, making him the first Indian to get a company listed on LSE. Over the next decade, Vedanta acquired several mines across Africa, Australia and other regions. After mining and metals, Agarwal turned his eye to oil and natural gas, announcing a $9 billion deal to acquire Cairn India, the country’s largest private sector oil producer. <cmsannotation type="cmsannotation" annotationid="The $20 billion mega-merger of 2012" comment="subhead" text="The $20 billion mega-merger of 2012">The $20 billion mega-merger of 2012</cmsannotation> In 2012, Vedanta Resources Plc announced a merger of its Indian firms – Sesa Goa, Sterlite, Vedanta Aluminium, and Madras Aluminium into a single entity named Sesa Sterlite. The merged entity, Sesa Sterlite, was valued at over $20 billion, making it the seventh largest global diversified natural resources major. At the time, Agarwal said it would result in a savings of ₹1,000 crore every year. <cmsannotation type="cmsannotation" annotationid="Taking Vedanta private" comment="subhead" text="Taking Vedanta private">Taking Vedanta private</cmsannotation> Getting Vedanta listed on the LSE was one of Agarwal’s dreams, but 15 years later, in 2018, the mining magnate delisted the company and took it private. The “why” of it is easy to understand – Vedanta was undervalued during the commodity slump of 2018, and a majority of the capital expenditure had already been made by then. Agarwal sensed an opportunity to take the company private at a lower price and reap the rewards during the next cyclical upswing of commodities. <cmsannotation type="cmsannotation" annotationid="Looking ahead" comment="subhead" text="Looking ahead">Looking ahead</cmsannotation> With the semiconductor chipset shortage hurting the electronics and automobile industry globally, and countries trying to reduce their dependence on China for this crucial piece of tech, Agarwal has shifted his focus with the ₹1.54 lakh crore investment announcement in Gujarat. Will it come to fruition or not is a story for another day, though. SEE ALSO: <a href="https://www.businessinsider.in/business/news/gautam-adani-just-1-billion-away-from-becoming-the-second-richest-person-in-the-world-as-per-bloomberg-index-report/articleshow/94242575.cms">Gautam Adani is $1 billion away from beating Jeff Bezos as the second richest person in the world</a> <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-a-story-on-how-to-generate-wealth-via-hope-fomo-and-of-course-debt/articleshow/91829090.cms">Understanding Gautam Adani’s rise: a story on how to generate wealth via hope, equity and of course debt</a> <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>

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Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange

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