Alphabet's wager on Freshworks is up $900 million after software company's IPO

, marks CapitalG's sixth IPO this year, following the debuts of UiPath, Duolingo, Robinhood and Oscar.

"It's hard not to feel great," said Gene Frantz, the CapitalG partner who led the Freshworks investment, in an interview on Wednesday.. The restaurant-tech company is valued at $31 billion, though GV's stake was not big enough to make it onto the prospectus. GV invested at a valuation of under $100 million.

Frantz recalled the time he first approached Freshworks CEO Girish Mathrubootham, who started the company in India in 2010. "We reached out to the CEO and invited him to our campus and introduced him to CapitalG to show not that he was working for us but the other way around," Frantz said. "I didn't want him to leave the room and tried to convince him we'd be a good partner going forward."

Frantz said the firm helped FreshWorks in a number of areas where Google's history and expertise could be beneficial. For example, the company has provided some engineering support with machine learning and artificial intelligence and has helped Freshworks when it comes to workplace issues such as remote work and returning to the office.

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IPO market braces for 14 deals this week — including payment processor Toast — unless Evergrande woes send issuers scurryingThe biggest deal of the week is expected to come from Freshworks ($FRSH), a California-based customer support software company that is seeking to raise up to $969 million. iamkoshiek there's so many IPOS going up on tech start ups... peep this
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »