Which stock is the hottest on NASDAQ? Freshworks!

Good Morning,

A new listing on NASDAQ is creating quite a stir — both in New York City as well as in the Indian SaaS ecosystem.

At the close of trade on Friday (September 24), Freshworks (trading under the ticker symbol 'FRSH')  was already the most bought stock by Indians, as per Vested Finance’s live stock tracker.

In data shared exclusively with YourStory, Vested Finance revealed that FRSH has traded more than popular stocks like Microsoft (MSFT), Shopify (SHOP), Salesforce (CRM), Amazon (AMZN), Apple (AAPL), Zoom (ZM), Adobe (ADBE), Facebook (FB), and Tesla (TSLA). 

More than Rs 2 crore has been invested in FRSH since it got listed on September 22, when the SaaS unicorn, which made 10 percent of company stock available for retail buying, raised $1.03 billion at a valuation of over $10 billion.

"Ever since Freshworks got listed, the trend witnessed is phenomenal. Over the last three days, it has been the #1 stock on our platform. This shows that investors are riding the global wave and investing in big IPO stocks like that of Freshworks," Viram Shah, Co-founder and CEO, Vested told YourStory.

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News & Updates

• Venture Capital fund 100X.VC announced the names of 10 startups selected out of a pool of 4785 pitches for its Class 05. With this addition, 100X.VC has crossed 60 investments since its launch in December 2019 (Class 01).

• Audi has termed high taxation on imported cars in India an impediment for growth of the electric segment, while noting that even some relief in terms of duties could help it sell more vehicles and re-invest in the country for local manufacturing of such models.

• HDFC Bank is aiming to expand its reach to two lakh villages in the next two years. The bank plans to achieve this through branch network, business correspondents, business facilitators, CSC partners, virtual relationship management and digital outreach platforms.

• Early-stage venture capital firm Antler is looking at building a portfolio of 100 startups in the next two-and-half years in India, working with these new businesses through the first 12 months of their operations and helping them build in India for the world.

• Amazon Internet Services Pvt Ltd (AISPL) has inked an agreement with MeitY Startup Hub to promote technology innovation and the sustainable growth of startups in India. AISPL undertakes the resale and marketing of Amazon Web Services (AWS) in India.

Before you go, stay inspired with… 

“It gives me a great sense of fulfilment today because I feel like this IPO has given me an opportunity as a CEO to fulfil my responsibility to all the employees of Freshworks to date, including those who are ex-employees today, and everyone who has believed in us over the last 10 years and contributed to Freshworks.”

— Girish Mathrubootham, Co-founder and CEO, Freshworks

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