Reuters reveals Salesforce rival Freshworks hires banks for IPO

Reuters broke the news that Freshworks, a U.S. maker of business and customer engagement software that competes against Salesforce.com Inc, has hired investment banks to prepare for a U.S. initial public offering (IPO). The stock market debut could value Freshworks at around $10 billion. The San Mateo, California-based company has hired Morgan Stanley to lead the IPO, which could come in the next few months, and is looking to float its shares on Nasdaq. Freshworks plans to confidentially submit paperwork for the offering to the U.S. Securities and Exchange Commission in the coming weeks.