Freshworks, a US maker of business and customer engagement software that competes against Salesforce.com Inc has hired investment banks to prepare for a US initial public offering (IPO), people familiar with the matter said on Tuesday.
This could values the firm at around $10 billion, two of the sources said, according to Reuters. Morgan Stanley has been hired to lead the IPO, that could come in a few monts time. The firm is also looking to be listed on Nasdaq, said sources, Reuters report said.
Freshworks plans to confidentially submit paperwork for the offering to the US Securities and Exchange Commission in the coming weeks, the sources added.
Launched in 2011 in Chennai, the firm was previously known as Freshdesk and founded by Girish Mathrubootham and Shan Krishnasamy, both former executives of Zoho, another enterprise software firm with Indian roots.