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Salesforce Rival Freshworks Aims for Nearly $9 Billion Valuation in US IPO

Freshworks Inc. is aiming for a nearly $9 billion valuation in a U.S. initial public offering, according to a regulatory filing by the business and customer engagement software company on Monday. The company, which rivals Salesforce.com Inc., said it would sell 28.5 million shares priced between $28 and $32. At the top end of the range, it will raise $912 million. The San Mateo, California-based firm joins a slew of listings from the software and technology sector. Most such debuts have seen strong interest from market participants who expect the companies to benefit from the shift to hybrid work following the pandemic. Founded in 2010 by Girish Mathrubootham and Shan Krishnasamy, Freshworks was launched from the South Indian city of Chennai. It raised its first round of funds in 2011 and in the same year it bagged its first customer—the Atwell College in Australia. Venture capital firm Accel and New …

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