The year 2021 saw a host of large startups hitting the public market to cash in on their big private valuations. But the script went awry for most of these issues.
Software-as-a-service (SaaS) startup FreshWorks hit the jackpot when it listed on Nasdaq last September. The market capitalisation of the company, the first SaaS player to go in for a public issue, was $13 billion after listing. But the euphoria did not last long: Tech stocks fell amid inflation worries in the US, and company’s market value plunged to just $4 billion, but is now at around $5.7 billion, regaining some ...
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