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Freshworks Founder Sells $40 Million in Shares

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Freshworks Founder Sells $40 Million in Shares

Ratna Girish Mathrubootham, the founder of Freshworks, recently sold shares worth $40 million on the Nasdaq stock exchange. The sales took place on December 18th and 19th, as detailed in the company’s filings with the U.S. Securities and Exchange Commission (SEC).

Details of the Sale

Mathrubootham sold a total of 2.5 million shares in two separate transactions:

  • On December 18, he sold 8.35 lakh shares for approximately $14 million.
  • On December 19, he sold an additional 16.6 lakh shares for roughly $26 million.

This sale aligns with Mathrubootham’s long-term financial diversification strategy, as he has been a significant shareholder in Freshworks and had pre-established trading plans to diversify his investments.

Context of the Sale

Despite this substantial sale, Mathrubootham remains the largest individual shareholder of Freshworks, retaining around 4% of the company’s total shares and significant voting power. This transaction comes after he stepped down as CEO earlier this year, handing over leadership to President Dennis Woodside.

Rationale Behind the Sale

The reasons for Mathrubootham’s decision to sell a portion of his shares can be attributed to several factors:

  • Financial Diversification: As part of his strategy to diversify his investments, Mathrubootham has been gradually selling shares since Freshworks went public in September 2021.
  • Market Conditions: The decision may also reflect current market conditions and the need for liquidity, especially in light of recent fluctuations in tech stock valuations.
  • Company Performance: Following the sale, Freshworks has seen mixed performance, including a reported revenue increase of 22% to $186.6 million in its latest quarter compared to the same period last year, indicating growth potential despite market challenges.

Impact on Freshworks

This sale is significant not only for Mathrubootham but also for Freshworks as a company:

  • The transaction underscores the ongoing changes within the company’s leadership structure following Mathrubootham’s departure as CEO.
  • It reflects broader trends in the tech industry where founders and executives are adjusting their stakes amid evolving market dynamics.

Future Outlook

Freshworks continues to focus on expanding its customer base and enhancing its product offerings. The company serves over 68,000 customers, including notable clients like American Express and Sony. As it navigates these changes, maintaining investor confidence will be crucial for its ongoing growth and stability.

Conclusion

Girish Mathrubootham’s recent sale of $40 million worth of Freshworks shares marks a pivotal moment in his financial strategy and the company’s evolution. While he remains a key stakeholder with significant influence, this move illustrates the complexities faced by tech leaders in balancing personal financial strategies with corporate responsibilities. As Freshworks continues to grow and adapt in a competitive landscape, it will be essential to monitor how these changes impact both its market position and overall performance.

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Imarticus Learning Acquires MyCaptain for INR 50 Crore to Boost Non-Tech Upskilling

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My Captain

Imarticus Learning, an IPO-bound professional education firm, has acquired Bengaluru-based edtech platform MyCaptain for INR 50 crore in a cash-and-stock deal. This marks Imarticus’s fourth acquisition in four years and is aimed at expanding its presence in non-tech career training, especially across India’s Tier-II and Tier-III cities. MyCaptain, which has over 500,000 learners and a revenue of ₹27 crore for FY25, specializes in creative and entrepreneurial fields, with 60% of its users from smaller cities.

 

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Startups such as Tabby, Tamara, and Jahez exemplify this momentum, as Saudi Arabia emerges as a top destination for innovation and entrepreneurship.

 

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SC Grants Relief to Paytm’s First Games, Stays Massive GST Notice

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StartupStories

The Supreme Court of India has granted interim relief to Paytm’s gaming arm, First Games, by staying proceedings on a ₹5,712 crore GST notice issued by the Directorate General of GST Intelligence (DGGI). The notice, sent in April 2025, demanded GST for the period January 2018 to March 2023, based on the department’s view that 28% GST should be levied on the total entry amount, rather than the 18% GST currently paid on platform fees.

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The Supreme Court’s order provides temporary relief to First Games and signals ongoing judicial scrutiny of GST demands across India’s online gaming sector.

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